Segment profit of $30 million was down $3 million from a year ago.
Cessna backlog at the end of the third quarter was $1.3 billion, down $196 million from the second quarter of 2012.
Bell revenues increased $181 million in the third quarter from the same period in the prior year, primarily reflecting commercial deliveries of 46 units in the third quarter of 2012, compared to 26 helicopters in last year’s third quarter. Military deliveries included 11 V-22’s and 5 H-1’s compared to 9 V-22’s and 7 H-1’s in last year’s third quarter.Segment profit increased $22 million, primarily reflecting higher volumes. Bell backlog at the end of the second quarter was $6.3 billion, down $434 million from the second quarter of 2012. Textron Systems Revenues at Textron Systems decreased $62 million primarily due to lower volumes. Segment profit decreased $26 million, reflecting charges associated with new fee-for-service unmanned aerial system contracts and lower volumes. Textron Systems’ backlog at the end of the third quarter was $2.9 billion, up $263 million from the second quarter of 2012. Industrial Industrial revenues increased $28 million reflecting higher volumes in our golf and turf and automotive businesses partially offset by unfavorable foreign exchange. Segment profit increased $1 million primarily due to the higher volume, partially offset by inflation that exceeded price increases. Finance Finance segment revenues increased $32 million compared to the third quarter of 2011. The segment reported a profit of $28 million compared to a $24 million loss in last year’s third quarter. Conference Call Information Textron will host its conference call today, October 17, 2012 at 8:00 a.m. (Eastern) to discuss its results and outlook. The call will be available via webcast at www.textron.com or by direct dial at (800) 230-1059 in the U.S. or (612) 234-9959 outside of the U.S. (request the Textron Earnings Call). In addition, the call will be recorded and available for playback beginning at 10:30 a.m. (Eastern) on Wednesday October 17, 2012 by dialing (320) 365-3844 internationally; Access Code: 225827.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV