View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
January 28, 2022

Textron reports full-year 2021 revenues of $12.4bn

Textron expects 2022 full-year EPS to be in the range of $3.80 to $4.00.

Industrial conglomerate Textron has reported fiscal 2021 full-year revenues of $12.4bn, up $731m from last year.

The company’s full-year 2021 income from continuing operations was $3.30 per share while adjusted income from continuing operations grew to $3.30 per share, from $2.07 in 2020.

Textron’s net cash from operating activities of continuing operations for the year was $1.5bn.

During the fourth quarter (Q4), the company’s earnings totalled $207m, compared to $236m in the corresponding quarter last year.

Excluding items, Textron reported adjusted earnings of $210m, against $244m a year ago.

Earnings per share (EPS) from continuing operations was $0.93, against $1.03 last year, while adjusted EPS dropped to $0.94, compared to $1.06 in the same period last year.

The company’s revenue for the quarter fell to $3.32bn, down from $3.67bn last year.

Textron Aviation revenues were $1.4bn, down $201m from the same quarter in the previous year. The aviation backlog rose by $655m during the quarter, and $2.5bn in full-year, to $4.1bn at year-end.

Revenues at Bell were $858m, down $13m from last year, and at Textron Systems were $313m, down $44m from last year’s fourth quarter.

Textron chairman and CEO Scott Donnelly said: “2021 was a solid year for Textron with strong order flow and execution at Aviation, continued progress on future vertical lift programs at Bell, strong execution and margin performance at Systems, and higher revenues and operating profit at Industrial.”

Textron expects its 2022 revenues to grow from $12.4bn to approximately $13.3bn.

The company expects full-year 2022 earnings per share to be in the range of $3.80 to $4.00.

Donnelly added: “Our outlook reflects continued momentum in our commercial businesses and ongoing investment in new products to increase long-term shareholder value.”

Last year, Textron, along with krtkl and VISIMO, received a small business innovation research (SBIR) award from the US Army.

Related Companies

Free Buyer's Guide
img

Top Guide to the Suppliers of Antennas, Masts & Towers

The download contains detailed information on the suppliers and their product lines, alongside contact details to ease your buying decision.
by VMS Engage – Buyer’s Guide
Enter your details here to receive your free Buyer's Guide.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The defence industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Army Technology