TEXTRON INC Reports Q2 Earnings of USD 6448.0 Million and Net Income of USD 454.0 Million for FY2023
August 13, 2023
🌥️Earnings Overview
On June 30, 2023, TEXTRON INC ($NYSE:TXT) reported their Q2 earnings results for FY2023 with total revenue of USD 6448.0 million and net income of USD 454.0 million, representing year-over-year increases of 104.4% and 109.2%, respectively.
Price History
On Thursday, TEXTRON INC reported its second quarter earnings for FY2023 with impressive numbers. The company posted a total revenue of USD 6448.0 million, 11.9% higher than the prior year quarter. The market responded positively to the financial results, pushing TEXTRON INC’s stock price up 11.9%.
At the opening bell, the stock opened at $72.5 and closed at $76.5, significantly above the prior closing price of 68.4. The positive results reflected the company’s solid performance in the quarter, providing investors with confidence in its future prospects. 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 | 35.51 |
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
At GoodWhale, we take a careful look into the fundamentals of each company before recommending investments. We recently conducted an analysis of TEXTRON INC and found that, in terms of financial and business aspects, it is a medium risk investment. To help investors make more informed decisions, GoodWhale has identified three risk warnings in the income sheet, balance sheet and non-financial categories. If you would like to get more information on these warnings, please register on goodwhale.com. Our analysis is designed to provide investors with all the necessary information, so they can make the best decisions when it comes to their investments. With GoodWhale at your side, you can be confident that your money is in safe hands. 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
This strong financial performance has been rewarded by investors, with the stock price moving up the same day it was reported. Given the positive earnings momentum, investors should be bullish on TEXTRON INC and consider investing in the near future, as it may be an opportunity to capitalize on the company’s strong growth.
Related Posts
Recent Posts
