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Textron (TXT) Beats on Q3 Earnings, Misses Revenues Estimate
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Textron Inc. (TXT - Free Report) , the aerospace and defense company is globally known for its most recognizable and valuable brand names such as the Bell Helicopter. This diversified U.S. conglomerate has a strong presence in diverse areas of business jets and other general aviation aircraft, helicopter and aircraft engines.
However, global political uncertainties and intensifying competition causes of concern.
Earnings Surprise History
Textron has reported earnings surprise of 9.09% in the second quarter of 2017. The company reported positive earnings surprise in two of the last four quarters with an average positive surprise of 1.20%.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Beat: Our consensus called for third quarter EPS of 62 cents, and the company reported adjusted EPS of 65 cents.
Revenue Miss: Textron posted revenues of $3.48 billion in third quarter, compared to our consensus estimate of $3.54 billion.
Key Developments to Note
Textron has lowered the upper limit of its adjusted earnings guidance range for 2017. The company currently expects to generate adjusted earnings in the range of $2.40 - $2.50 per share, compared to prior guidance range of $2.40 - $2.60 per share.
Stock Price: Following the earnings release, share prices for the company made no significant change in the pre-market trading session.
Check back later for our full write up on this Textron earnings report later!
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Textron (TXT) Beats on Q3 Earnings, Misses Revenues Estimate
Textron Inc. (TXT - Free Report) , the aerospace and defense company is globally known for its most recognizable and valuable brand names such as the Bell Helicopter. This diversified U.S. conglomerate has a strong presence in diverse areas of business jets and other general aviation aircraft, helicopter and aircraft engines.
However, global political uncertainties and intensifying competition causes of concern.
Earnings Surprise History
Textron has reported earnings surprise of 9.09% in the second quarter of 2017. The company reported positive earnings surprise in two of the last four quarters with an average positive surprise of 1.20%.
Zacks Rank
Currently, Textron has a Zacks Rank #4 (Sell), but that could definitely change following Textron’s third-quarter 2017 earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Textron Inc. Price and EPS Surprise
Textron Inc. Price and EPS Surprise | Textron Inc. Quote
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Beat: Our consensus called for third quarter EPS of 62 cents, and the company reported adjusted EPS of 65 cents.
Revenue Miss: Textron posted revenues of $3.48 billion in third quarter, compared to our consensus estimate of $3.54 billion.
Key Developments to Note
Textron has lowered the upper limit of its adjusted earnings guidance range for 2017. The company currently expects to generate adjusted earnings in the range of $2.40 - $2.50 per share, compared to prior guidance range of $2.40 - $2.60 per share.
Stock Price: Following the earnings release, share prices for the company made no significant change in the pre-market trading session.
Check back later for our full write up on this Textron earnings report later!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>