PROVIDENCE – Textron Inc. reported a net income of $142 million, or 47 cents per share, in the third quarter compared to a loss of $48 million, or 17 cents per share, a year earlier.
Last year’s results included a 30-cent per share in special charges, the multi-industry company said.
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“Third quarter results reflected good execution and cost performance at Bell and Cessna, including continued success in selling commercial aircraft in a tough environment. We believe thus reflects the strength of our brands and investments we are making in new products, aftermarket services and sales capabilities,” said Textron Chairman and CEO Scott C. Donnelly.
Revenue for the third quarter was $2.81 billion, compared to $2.48 billion a year earlier. In the segment breakdown, Cessna increased $236 million; Bell advanced $69 million; Textron Systems was essentially unchanged; Industrial gained $55 million; while finance declined $27 million in the third quarter.
In the nine months, profit surged to $261 million, or 83 cents per share, from $26 million as seen in the year earlier period. Revenue was $8.02 billion, up from $7.4 billion.
