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Textron: 2Q Earnings Snapshot

July 17, 2019

PROVIDENCE, R.I. (AP) _ Textron Inc. (TXT) on Wednesday reported second-quarter earnings of $217 million.

On a per-share basis, the Providence, Rhode Island-based company said it had net income of 93 cents.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The maker of Cessna small planes and Bell helicopters posted revenue of $3.23 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $3.36 billion.

Textron expects full-year earnings to be $3.65 to $3.85 per share.

Textron shares have increased 18% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has dropped 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXT at https://www.zacks.com/ap/TXT

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