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Textron (TXT) Unit Sends 1st Citation Longitude Jet to Mexico
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Textron Inc. (TXT - Free Report) announced that its subsidiary, Textron Aviation, has delivered the first Cessna Citation Longitude business jet to a customer in Mexico. This flagship aircraft, certified by the Mexican Federal Civil Aviation Agency in 2022, will be utilized by the customer for business travel within Mexico and North America.
The Cessna Citation Longitude, with its outstanding performance, efficiency and unparalleled cabin experience, has become the preferred choice for both passengers and pilots.
The aircraft offers unmatched range, payload capacity and cruise speed at a lower direct operating cost compared with other super-midsize business jets currently available in the market. Given the demand for the aircraft, Textron Aviation announced that it has produced the 100th unit of the Citation Longitude, which will be delivered to a customer later this year.
Steady Expansion of the Business Jet Market
Per Visiongain Reports research report, the global business and private jet market was valued at $28.11 billion in 2022 and is projected to witness a CAGR of 16.2% during the 2023-2033 period. The ongoing research and development, upgrade of the existing model and usage of powerful engines will result in the production of more advanced business jets.
It is evident that the business and private jet market provides ample growth opportunities to the operators in the space. In addition to Textron unit, Embraer S.A. (ERJ - Free Report) and General Dynamics Corporation (GD - Free Report) , among others, offer a variety of private jets to their customers.
General Dynamics’ G400 offers a combination of long-range, high-speed performance, cabin comfort and environmental efficiency unrivaled in its class.
Embraer, in turn, is delivering more than 500 units of the highly-appreciated Phenom 300 to its customers.
Price Movement
In the past year, shares of Textron have gained 9.8% against the industry’s decline of 0.9%.
Lockheed Martin’s long-term (three to five years) earnings growth is currently pinned at 6.15%. The company reported an average earnings surprise of 7.46% in the last four reported quarters. The Zacks Consensus Estimate of Lockheed’s second-quarter earnings is currently pegged at $6.43, up 0.3% in the past 60 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Textron (TXT) Unit Sends 1st Citation Longitude Jet to Mexico
Textron Inc. (TXT - Free Report) announced that its subsidiary, Textron Aviation, has delivered the first Cessna Citation Longitude business jet to a customer in Mexico. This flagship aircraft, certified by the Mexican Federal Civil Aviation Agency in 2022, will be utilized by the customer for business travel within Mexico and North America.
The Cessna Citation Longitude, with its outstanding performance, efficiency and unparalleled cabin experience, has become the preferred choice for both passengers and pilots.
The aircraft offers unmatched range, payload capacity and cruise speed at a lower direct operating cost compared with other super-midsize business jets currently available in the market. Given the demand for the aircraft, Textron Aviation announced that it has produced the 100th unit of the Citation Longitude, which will be delivered to a customer later this year.
Steady Expansion of the Business Jet Market
Per Visiongain Reports research report, the global business and private jet market was valued at $28.11 billion in 2022 and is projected to witness a CAGR of 16.2% during the 2023-2033 period. The ongoing research and development, upgrade of the existing model and usage of powerful engines will result in the production of more advanced business jets.
It is evident that the business and private jet market provides ample growth opportunities to the operators in the space. In addition to Textron unit, Embraer S.A. (ERJ - Free Report) and General Dynamics Corporation (GD - Free Report) , among others, offer a variety of private jets to their customers.
General Dynamics’ G400 offers a combination of long-range, high-speed performance, cabin comfort and environmental efficiency unrivaled in its class.
Embraer, in turn, is delivering more than 500 units of the highly-appreciated Phenom 300 to its customers.
Price Movement
In the past year, shares of Textron have gained 9.8% against the industry’s decline of 0.9%.
Image Source: Zacks Investment Research
Zacks Rank & A Key Pick
Textron currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same industry holding a Zacks Rank #2 (Buy) is Lockheed Martin Corporation (LMT - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin’s long-term (three to five years) earnings growth is currently pinned at 6.15%. The company reported an average earnings surprise of 7.46% in the last four reported quarters. The Zacks Consensus Estimate of Lockheed’s second-quarter earnings is currently pegged at $6.43, up 0.3% in the past 60 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.