Textron Revenue Increases

Textron Aviation reported revenue of $1.3 billion—a 14.7 percent increase from the same period last year, according to results released last week.

The manufacturer says the increase is a combination of higher volume and higher pricing. In Q3, Textron delivered 39 jets, on par with deliveries last year, and 38 turboprops—up five from the same period in 2022.

Textron Chairman and CEO Scott Donnelly said, “At Aviation, we saw our strongest order quarter of the year with a 12% increase over the third quarter of 2022."

During Thursday’s earnings call, Donnelly acknowledged the company faces challenges from persistent supply chain bottlenecks, saying, “As you get towards the end of a quarter, if you’re missing parts for aircraft, you still can’t deliver that aircraft.”

Textron subsidiary Bell reported revenues flat with the third quarter of 2022 at $754 million. Twenty-three helicopters were delivered in the quarter—down from 49 last year.

Additionally, Textron eAviation segment revenues were $7 million while segment loss was $19 million in Q3, mainly due to research and development costs.