Textron Raises Full Year Earnings Guidance - Quick Facts

(RTTNews) - While reporting third-quarter results on Thursday, Textron Inc. (TXT) increased its full year earnings per share and cash guidance. The company now expects 2021 earnings per share from continuing operations to be in a range of $3.17 to $3.29, or $3.20 to $3.30 on an adjusted basis. Previously, the company projected 2021 earnings per share from continuing operations in a range of $2.97 to $3.21, or $3.00 to $3.20 on an adjusted basis.

Analysts polled by Thomson Reuters expect the company to report profit per share of $2.84. Analysts' estimates typically exclude special items.

Textron also projects cash flow from continuing operations of the manufacturing group before pension contributions to be in a range of $1 billion to $1.1 billion.

Third quarter adjusted income per share from continuing operations was $0.85, compared to $0.53, prior year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.66, for the quarter. Profit from continuing operations was $185 million or $0.82 per share compared to $115 million or $0.50 per share.

Revenue increased to $2.99 billion from $2.74 billion, a year ago. Analysts expected revenue of $2.69 billion, for the quarter.

Shares of Textron were up 2% in pre-market trade on Thursday.