Aircraft Segments Boost Revenues, Profits at Textron

AINalerts » July 17, 2014
Textron Aviation’s second-quarter profits climbed $625 million, mostly due to the contributions of recently acquired Beechcraft. The company delivered 34 Beechcraft King Airs turboprop twins and 36 Cessna Citation business jets in the quarter, up from 14 and 20, respectively, in the same period last year. (Photo: Textron Aviation)
July 17, 2014, 3:10 PM

Second-quarter revenues at Textron Aviation, which includes Cessna and Beechcraft, climbed $623 million year-over-year, to $1.18 billion, reflecting the Beechcraft acquisition in late March and higher jet deliveries. Textron Aviation delivered 70 turbine business aircraft during the quarter–36 Cessna Citations and 34 Beechcraft Kings Airs, up from 20 jets and 14 King Air turboprops in the same period last year.

Textron Aviation recorded a profit of $28 million in the quarter versus a loss of $50 million a year ago. Meanwhile, Textron Aviation’s backlog at the end of the quarter stood at $1.4 billion, down $100 million from March 30. Textron chairman and CEO Scott Donnelly characterized the business jet market as “stable” and said that much of the growth is attributable to new products–the recently certified Citation M2, Sovereign+ and X+, as well as the in-development Citation Latitude.

Meanwhile, sister company Bell Helicopter reported that second-quarter revenues rose by $94 million, to $1.12 billion, thanks to more deliveries and a $41 million settlement with the U.S. Department of Defense. Profits were up by $6 million, to $141 million. Bell delivered 46 civil helicopters in the quarter, compared with 44 in the same span last year. Its backlog at the end of the second quarter was $5.8 billion, down $422 million from March 30.

FILED UNDER: 
Share this...

Comments

No Avatar
aventhusiast
on July 17, 2014 - 6:26pm

Overall, Textron Aviation had a pretty solid quarter. With its recent decision to expand its safety product line to all Cessna and Beechcraft models, second half earnings at the company should experience a significant increase on top of any aircraft orders not related to safety models.

Please Register

In order to leave comments you will now need to be a registered user. This change in policy is to protect our site from an increased number of spam comments. Additionally, in the near future you will be able to better manage your AIN subscriptions via this registration system. If you already have an account, click here to log in. Otherwise, click here to register.

 
X