The Providence, R.I., company, with businesses in aerospace and defense, fuel systems and financial services, now expects full-year profit of $3.70 to $3.80 a share. In its second-quarter-earnings release, the range was shown as $3.65 to $3.85.
Manufacturing cash flow before pension contributions for the year should come in at $600 million to $700 million, down from its previous guidance between $700 million and $800 million.
The company still expects pension contributions to be $50 million for the year.
For the third quarter, Textron reported a 56% increase in earnings to 95 cents a share. Analysts surveyed by FactSet were expecting 85 cents. Revenue, up 1.8% to $3.26 billion, compared with the estimate of $3.31 billion.
The higher revenue was driven mainly by Textron Aviation and Industrial, CEO Scott Donnelly said in a statement.
Textron shares were trading down 4.5% to $48.20.