Cessna Deliveries Down, but Bell Shines at Textron
Cessna Aircraft and Bell Helicopter parent company Textron yesterday reported a $1 billion increase in revenues, to $12.237 billion, last year, but it was the performance at Bell that contributed most to this gain. Manufacturing profits also rose by more than $140 million, to $1.07 billion, again mostly due to the helicopter manufacturer.
At Cessna, 2012 revenues increased to $3.1 billion, up $110 million from the previous year, while profits climbed by $22 million, to $82 million. However, jet deliveries at the company slid slightly last year. Cessna delivered 181 jets versus 183 in 2011, “reflecting economic and political volatility that developed during the second half of the year,” said Textron chairman and CEO Scott Donnelly. Cessna’s backlog at the end of the fourth quarter was $1.1 billion, down $267 million from the end of the third quarter.
Meanwhile, Bell Helicopter saw civil rotorcraft deliveries jump 50 percent last year, resulting in a $750 million revenue increase, to $4.27 billion, and a $118 million rise in profits, to $639 million. Last year, Bell delivered 188 civil helicopters, up 125 from 2011. “Looking to 2013, based on our commercial backlog and an active order pipeline, we expect a solid increase in commercial deliveries once again,” Donnelly said. Bell’s backlog at the end of the fourth quarter was $7.5 billion, up $1.2 billion from the end of the third quarter.