Textron Aviation Third Quarter 2022 Revenues Down

Textron Aviation has reported revenues of $1.2 billion for the third quarter (Q3) of 2022, a drop of $14 million compared to the same time period last year. According to the company, the decrease was “largely due to lower Citation jet and pre-owned volume, partially offset by favorable pricing and higher aftermarket volume.” Textron delivered 39 jets and 33 commercial turboprops in the quarter compared to 49 and 35 respectively in Q3 2021. Segment backlog at the end of the quarter was $6.4 billion, up $524 million from last quarter. Textron Aviation Q3 2022 profits rose $41 million from Q3 2021 numbers to $139 million.

On the rotorcraft side, Textron subsidiary Bell also saw lower revenues this quarter, reporting a $15 million drop from Q3 2021 to $754 million. The company cited “lower military revenues of $112 million, primarily in the H-1 program due to lower aircraft and spares volume, offset by higher commercial revenues of $97 million.” Segment profits came in at $85 million for Q3 2022, which is down $20 million from the third quarter of last year. Bell delivered 49 commercial helicopters in the quarter, up from 33 last year, and ended the quarter with a backlog of $4.9 billion.