Textron Q3 profit jumps on product line sale, revenue declines

TEXTRON REPORTED A $563 million profit in the third quarter, largely due to the $410 million post-tax gain from selling its Tools & Test Equipment product line. / COURTESY TEXTRON
TEXTRON REPORTED A $563 million profit in the third quarter, largely due to the $410 million post-tax gain from selling its Tools & Test Equipment product line. / COURTESY TEXTRON
PROVIDENCE – Textron Inc. reported a $563 million net income for the third quarter, or $2.26 per diluted share, a 254 percent increase from a $159 million profit in the third quarter of 2017, or 60 cents per diluted share, the company reported Thursday. The increase in company profit year over year for the quarter…

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