Textron Inc. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Textron Inc. (TXT) reported a profit for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $223 million, or $1.18 per share. This compares with $269 million, or $1.35 per share, in last year's third quarter.

Excluding items, Textron Inc. reported adjusted earnings of $265 million or $1.40 per share for the period.

Analysts on average had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.7% to $3.43 billion from $3.34 billion last year.

Textron Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $223 Mln. vs. $269 Mln. last year. -EPS (Q3): $1.18 vs. $1.35 last year. -Revenue (Q3): $3.43 Bln vs. $3.34 Bln last year.

-Guidance: Full year EPS guidance: $5.40 to $5.60