The company reported a 27.5% year over year quarterly jump in earnings to 51 cents per diluted share, 5 cents better than what analysts polled by Thomson Reuters were expecting.
Quarterly revenues were up 23.5% from the year ago period to $3.5 billion, helped by the company's acquisition of Beechcraft which contributed $425 million to the company's bottom line. The aerospace segment profit for the quarter jumped to $304 million from $91 million the previous year as a result of the acquisition.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates TEXTRON INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TEXTRON INC (TXT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.