Textron reports Q3 adjusted EPS $1.40, consensus $1.49

Reports Q3 revenue $3.43B, consensus $3.51B. “In the third quarter, Textron (TXT) Aviation experienced a strike upon the expiration of its existing labor agreement with bargaining unit employees that was recently settled with the ratification of a new five-year contract,” said CEO Scott Donnelly. “The labor disruption adversely impacted our Q3 results and we expect it to negatively affect Q4 financials. In the quarter, Bell achieved a key milestone on the FLRAA program with the U.S. Army’s approval of Milestone B establishing FLRAA as a program of record,” said Donnelly. “In addition, at Textron Aviation, the ongoing investment in new products continued to drive demand, achieving over $1.0B of new orders.”