Textron Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 2, 2016; Provides Earnings Guidance for the Year 2016
January 27, 2016 at 11:30 am
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Textron Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended January 2, 2016. For the quarter, the company reported total revenues of USD 3,923 million compared to USD 4,096 million a year ago. Income from continuing operations before income taxes was USD 294 million compared to USD 287 million a year ago. Income from continuing operations was USD 225 million compared to USD 213 million a year ago. Net income was USD 226 million compared to USD 212 million a year ago. Income per share from continuing operations
Was USD 0.81 compared to USD 0.76 a year ago. Net income per share was USD 0.82 compared to USD 0.76 a year ago. Net cash from operating activities of continuing operations was USD 691 million compared to USD 606 million a year ago. Capital expenditures were USD 134 million compared to USD 174 million a year ago.
For the year, the company reported total revenues of USD 13,423 million compared to USD 13,878 million a year ago. Income from continuing operations before income taxes was USD 971 million compared to USD 853 million a year ago. Income from continuing operations was USD 698 million compared to USD 605 million a year ago. Net income was USD 697 million compared to USD 600 million a year ago. Income per share from continuing operations
Was USD 2.50 compared to USD 2.15 a year ago. Net income per share was USD 2.50 compared to USD 2.13 a year ago. Net cash from operating activities of continuing operations was USD 1,038 million compared to USD 1,097 million a year ago. Capital expenditures were USD 420 million compared to USD 429 million a year ago.
The company is forecasting 2016 revenues of approximately USD 14.3 billion, up 6%, and earnings per share from continuing operations in the range of USD 2.60 to USD 2.80. The company is estimating cash flow from continuing operations of the manufacturing group before pension contributions will be between USD 600 and USD 700 million with planned pension contributions of about USD 60 million.
Textron Inc. is a diversified industrial group organized around 5 families of products and services:
- aircraft (34.1% of net sales): business aircraft, turboprop planes, and single-engine piston aircraft;
- military and commercial helicopters (28.4%; Bell). The group also offers logistical support services, technical support services, training, maintenance, and repair services;
- industrial equipment (25.7%): fuel systems, hydraulic power tools, measuring equipment, fiber-optic connectors, golf carts, lawn maintenance equipment, etc.;
- defense and aerospace systems (11.3%): precision weaponry, smart battlefield systems, airborne and underground surveillance systems, aircraft control components, unmanned aircraft systems, shielded vehicles, piston engines, etc.;
- financing services (0.5%).
Net sales break down geographically as follows: the United States (68.2%), Europe (11.5%), Asia and Australia (9.5%) and other (10.8%).
Textron Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 2, 2016; Provides Earnings Guidance for the Year 2016
TEXTRON INC. 
