Cessna and Bell Boost Textron Profits
Textron president and CEO Lewis Campbell last month credited Cessna and Bell Helicopter deliveries for the company’s third-quarter revenue increase of 15 percent, to $3.3 billion. Profits increased 36 percent, to $423 million. Cessna delivered 103 Citations in the third quarter and estimates that it will deliver 380 business jets this year. Campbell expects Cessna to deliver 470 Citations next year. Additionally, the airframer’s backlog has ballooned to $11.9 billion, due in part to the more than $1 billion in orders for 178 aircraft taken at the NBAA Convention in September. Meanwhile, third-quarter deliveries at Bell came in at 40 helicopters, and Textron expects the division to ship a total of 175 this year.