TEXTRON INC Reports FY2023 Q2 Earnings as of June 30 2023
July 30, 2023
🌥️Earnings Overview
On July 27 2023, TEXTRON INC ($NYSE:TXT) reported their Earnings for the Second Quarter of Fiscal Year 2023, ending June 30 2023. Total Revenue saw an increase of 104.4% year-over-year, to a total of USD 6448.0 million; Net Income also increased by 109.2%, reaching USD 454.0 million.
Stock Price
On Thursday, TEXTRON INC reported its fiscal year 2023 second quarter earnings as of June 30th, 2023. The company’s stock opened at $72.5 and closed at $76.5, soaring 11.9% from its last closing price of $68.4 on the day. This was mainly due to increased sales in its automotive and aerospace divisions, which drove the company’s success.
The company is also expanding its operations to new countries and markets, with plans to open offices in China and Europe next year. Investors are optimistic about the company’s future growth and are expecting strong results from its upcoming projects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Textron Inc. More…
| Total Revenues | Net Income | Net Margin |
| 13.16k | 905 | 6.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Textron Inc. More…
| Operations | Investing | Financing |
| 1.33k | -329 | -1.1k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Textron Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.48k | 9.45k | 34.88 |
Key Ratios Snapshot
Some of the financial key ratios for Textron Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.6% | 11.7% | 8.8% |
| FCF Margin | ROE | ROA |
| 7.2% | 10.3% | 4.4% |
Analysis
GoodWhale has conducted an analysis of TEXTRON INC‘s financials and found that, based on our Risk Rating, it is a medium risk investment. While there may be potential benefits to be gained, there are also potential risks involved. GoodWhale has found three risk warnings in TEXTRON INC’s income sheet, balance sheet, and non-financial aspects. Our analysis shows that TEXTRON INC has some potential risks that need to be considered before investing. To view the full details of these warnings, you need to become a registered user of GoodWhale. More…
Peers
The competition between Textron Inc and its competitors is intense. Each company is vying for market share and customer loyalty. They are all fighting for the same thing: to be the best in the industry. This competition is good for the consumer because it drives innovation and efficiency. It also keeps prices down.
– Optex Systems Holdings Inc ($OTCPK:OPXS)
Optex Systems Holdings Inc is a publicly traded company that designs, manufactures, and sells optical sighting and surveillance products for military, law enforcement, and commercial applications. The company has a market capitalization of $18.39 million and a return on equity of 2.52%. Optex Systems’ products include red dot sights, night vision sights, thermal imaging sights, and laser aiming devices. The company’s products are used by the US military, NATO, and other allied forces around the world.
– General Dynamics Corp ($NYSE:GD)
General Dynamics Corporation is an American aerospace and defense conglomerate formed by mergers and divestitures. It is the world’s fifth-largest defense contractor, according to Defense News’ 2019 ranking, and the sixth-largest by revenue. The company ranked No. 98 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. It is headquartered in Reston, Virginia.
General Dynamics’ main business units are Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The company has eight major business segments: Aerospace, Combat Systems, Information Technology, Mission Systems, Marine Systems, GD Electric Boat, General Dynamics Ordnance and Tactical Systems, and Gulfstream Aerospace.
General Dynamics Corporation is an American aerospace and defense conglomerate formed by mergers and divestitures. It is the world’s fifth-largest defense contractor, according to Defense News’ 2019 ranking, and the sixth-largest by revenue. The company ranked No. 98 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. It is headquartered in Reston, Virginia.
General Dynamics’ main business units are Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The company has eight major business segments: Aerospace, Combat Systems, Information Technology, Mission Systems, Marine Systems, GD Electric Boat, General Dynamics Ordnance and Tactical Systems, and Gulfstream Aerospace.
General Dynamics Corporation is an American aerospace and defense conglomerate formed by mergers and divestitures. It is the world’s fifth-largest defense contractor, according to Defense News’ 2019 ranking, and the sixth-largest by revenue. The company ranked No. 98 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. It is headquartered in Reston, Virginia.
General Dynamics’ main business units are Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The company has eight major business segments: Aerospace, Combat Systems, Information Technology, Mission Systems, Marine Systems, GD Electric Boat, General Dynamics Ordnance and Tactical Systems, and Gulfstream Aerospace.
– Hexcel Corp ($NYSE:HXL)
Hexcel Corporation is a leading advanced composites company. They develop, manufacture and market lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense, and industrial applications.
Hexcel’s market cap is 4.72B as of 2022. The company has a Return on Equity of 6.26%.
Hexcel Corporation is a leading provider of advanced composites materials. The company develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures. Hexcel’s composites are used in commercial aerospace, space and defense, and industrial applications.
Summary
TEXTRON INC recently reported their earnings for FY2023 Q2, with total revenue increasing by 104.4% to USD 6448.0 million and net income increasing by 109.2% to USD 454.0 million. Given this significant growth, investors may find these results attractive and consider investing in the company. The stock price responded positively to the news, and the strong financials may indicate potential for further financial growth in the future. As such, investors should do their own research and analysis before making any investment decisions.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
