Textron Q1 profit shrinks to $50M, pandemic cited

TEXTRON INC. has reported a $50 million profit for the first quarter of 2020. / COURTESY TEXTRON
TEXTRON INC. has reported a $50 million profit for the first quarter of 2020. / COURTESY TEXTRON
PROVIDENCE – Textron Inc. reported a profit of $50 million in the first quarter, a 72.1% decline year over year due to impacts from the COVID-19 pandemic, the company said on Thursday. Earnings per diluted share were 22 cents, compared with 76 cents one year prior. Revenue for the quarter was $2.8 billion, a 10.6%…

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