With a year-end record backlog of $12.6 billion, up 48 percent from $8.5 billion at the end of 2006, Cessna will be able to weather any economic downturn, parent company Textron said during an investor call late last month. “We’ve scoured the backlog pretty well, and we’re confident [about] the depth and strength of the backlog,” noted Textron chairman, president and CEO Lewis Campbell. Even if the economy falters, he said, Cessna would still have a 20-month backlog in 2010, the projected recovery date of any impending economic downturn. “But if there’s something coming, we certainly can’t see it,” he said, noting that the main business jet economic indicators remain strong and the Cessna sales force is “bullish.” Cessna delivered 387 Citations last year and expects to deliver about 470 business jets this year.
Textron: Cessna’s Backlog Strong
- February 5, 2008, 11:26 AM