Textron reports decline in profit, revenue in first quarter

TEXTRON INC. reported lower revenue and profit in its first-quarter earnings release on Wednesday. Pictured is a Citation Sovereign+ jet. The company delivered only one more jet this quarter than in the year-ago quarter, 35 compared with 34. / COURTESY CESSNA AIRCRAFT CO.
TEXTRON INC. reported lower revenue and profit in its first-quarter earnings release on Wednesday. Pictured is a Citation Sovereign+ jet. The company delivered only one more jet this quarter than in the year-ago quarter, 35 compared with 34. / COURTESY CESSNA AIRCRAFT CO.
PROVIDENCE – Textron Inc., the maker of Bell helicopter and Citation jets, reported a 32.7 percent decline in net income and a 3.4 percent decrease in revenue in the 2017 first quarter. The manufacturer said Wednesday that net income fell to $101 million, or 37 cents per diluted share, from $150 million, or 55 cents…

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