- EPS of $0.76; adjusted EPS of $1.34
- Full-year adjusted EPS of $5.48
- Full-year share repurchases of $1.1 billion
- Aviation backlog of $7.8 billion at year-end 2024, up $676
million from year-end 2023
- 2025 full-year EPS outlook of $5.19 to $5.39, full year
adjusted EPS outlook of $6.00 to $6.20
Textron Inc. (NYSE: TXT) today reported fourth quarter 2024
income from continuing operations of $0.76 per share, as compared
to $1.01 per share in the fourth quarter of 2023. Adjusted income
from continuing operations, a non-GAAP measure that is defined and
reconciled to GAAP in an attachment to this release, was $1.34 per
share for the fourth quarter of 2024, compared to $1.60 per share
in the fourth quarter of 2023.
Full year 2024 income from continuing operations was $4.34 per
share, down from $4.57 in 2023. Full year 2024 adjusted income from
continuing operations was $5.48, as compared to $5.59 in 2023.
“While a work stoppage at Textron Aviation impacted our 2024
financial results, we saw strong order activity, aftermarket
growth, and continued new product development activities with the
announcement of the Gen3 family of light jets,” said Textron
Chairman and CEO Scott C. Donnelly. “At Bell, we made significant
progress on FLRAA achieving Milestone B, which launched the
Engineering and Manufacturing Development phase of the
program.”
Cash Flow
Net cash provided by operating activities of the manufacturing
group for the full year was $1.0 billion. Manufacturing cash flow
before pension contributions, a non-GAAP measure that is defined
and reconciled to GAAP in an attachment to this release, totaled
$692 million for the full year, down from $931 million in 2023.
In the quarter, Textron returned $232 million to shareholders
through share repurchases. Full year 2024 share repurchases totaled
$1.1 billion.
Outlook
Textron is forecasting 2025 revenues of approximately $14.7
billion, up from $13.7 billion in 2024. Textron expects full-year
2025 GAAP earnings per share from continuing operations will be in
the range of $5.19 to $5.39, or $6.00 to $6.20 on an adjusted
basis, which is reconciled to GAAP in an attachment to this
release.
The Company is estimating net cash provided by operating
activities of the manufacturing group will be between $1.2 billion
and $1.3 billion and manufacturing cash flow before pension
contributions, a non-GAAP measure, will be between $800 million and
$900 million, with planned pension contributions of about $50
million.
“2024 was a challenging year with a strike at Aviation and
difficult end markets in our Industrial segment. Our 2025 outlook
of higher revenue and margin reflects a stabilized production line
with improved productivity at Textron Aviation, growth across our
aerospace and defense businesses driven by new product development,
and an improved cost structure at our Industrial segment,” Donnelly
concluded.
Fourth Quarter Segment Results
Textron Aviation
Revenues at Textron Aviation of $1.3 billion were down $242
million from the fourth quarter of 2023, reflecting lower volume
and mix of $282 million, which was principally a result of
production disruptions related to the strike.
Textron Aviation delivered 32 jets in the quarter, down from 50
last year, and 38 commercial turboprops, down from 44 last
year.
Segment profit was $100 million in the fourth quarter, down $93
million from a year ago, primarily due to lower volume and mix, and
manufacturing inefficiencies, which included idle facilities costs
and higher costs associated with the labor disruption, resulting
from the strike.
Textron Aviation backlog at the end of the fourth quarter was
$7.8 billion, up $219 million from the prior quarter.
Bell
Bell revenues were $1.1 billion, up $58 million from last year's
fourth quarter, reflecting higher military and support program
revenues of $67 million, primarily due to higher volume on the
FLRAA program, partially offset by lower volume on the V-22
program.
Bell delivered 78 commercial helicopters in the quarter, down
from 91 last year.
Segment profit of $110 million was down $8 million from a year
ago, primarily driven by mix as lower volume on the V-22 program
offset higher volume on the FLRAA program.
Bell backlog at the end of the fourth quarter was $7.5
billion.
Textron Systems
Revenues at Textron Systems were $311 million, down $3 million
from last year's fourth quarter.
Segment profit of $42 million was up $7 million from last year's
fourth quarter.
Textron Systems’ backlog at the end of the fourth quarter was
$2.6 billion.
Industrial
Industrial revenues were $869 million, down $92 million from
last year's fourth quarter, largely reflecting lower volume.
Segment profit of $48 million was down $9 million from the
fourth quarter of 2023, reflecting lower volume and mix and
inflation, partially offset by manufacturing efficiencies and lower
selling and administrative expense, largely due to cost reduction
activities.
Textron eAviation
Textron eAviation segment revenues were $11 million in the
fourth quarter of 2024, with a segment loss of $22 million, largely
associated with research and development expense on new
products.
Finance
Finance segment revenues were $11 million, and profit was $5
million in the fourth quarter of 2024.
Restructuring
In December, Textron announced a strategic review of its
powersports product line within the Industrial segment that
resulted in additional restructuring actions as it indefinitely
pauses production of powersports products. With these actions, in
the fourth quarter, the Company recorded total pre-tax special
charges of $53 million and an inventory valuation charge of $38
million to write down production-related powersports inventory.
Conference Call Information
Textron will host its conference call today, January 22, 2025 at
8:00 a.m. (Eastern) to discuss its results and outlook. The call
will be available via webcast at www.textron.com or by direct dial
at (800) 343-1703 in the U.S. or (785) 424-1226 outside of the
U.S.; Access Code: 84015.
In addition, the call will be recorded and available for
playback beginning at 11:00 a.m. (Eastern) on Wednesday, January
22, 2025 by dialing (800) 839-5125; Access Code: 26683.
A package containing key data that will be covered on today’s
call can be found in the Investor Relations section of the
company’s website at www.textron.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its
global network of aircraft, defense, industrial and finance
businesses to provide customers with innovative solutions and
services. Textron is known around the world for its powerful brands
such as Bell, Cessna, Beechcraft, Hawker, Pipistrel, Jacobsen,
Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Systems. For more
information visit: www.textron.com.
Forward-looking Information
Certain statements in this release and other oral and written
statements made by us from time to time are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements, which may
describe strategies, goals, outlook or other non-historical
matters, or project revenues, income, returns or other financial
measures, often include words such as “believe,” “expect,”
“anticipate,” “intend,” “plan,” “estimate,” “guidance,” “project,”
“target,” “potential,” “will,” “should,” “could,” “likely” or “may”
and similar expressions intended to identify forward-looking
statements. These statements are only predictions and involve known
and unknown risks, uncertainties, and other factors that may cause
our actual results to differ materially from those expressed or
implied by such forward-looking statements. Given these
uncertainties, you should not place undue reliance on these
forward-looking statements. Forward-looking statements speak only
as of the date on which they are made, and we undertake no
obligation to update or revise any forward-looking statements. In
addition to those factors described in our Annual Report on Form
10-K and our Quarterly Reports on Form 10-Q under “Risk Factors”,
among the factors that could cause actual results to differ
materially from past and projected future results are the
following: Interruptions in the U.S. Government’s ability to fund
its activities and/or pay its obligations; changing priorities or
reductions in the U.S. Government defense budget, including those
related to military operations in foreign countries; our ability to
perform as anticipated and to control costs under contracts with
the U.S. Government; the U.S. Government’s ability to unilaterally
modify or terminate its contracts with us for the U.S. Government’s
convenience or for our failure to perform, to change applicable
procurement and accounting policies, or, under certain
circumstances, to withhold payment or suspend or debar us as a
contractor eligible to receive future contract awards; changes in
foreign military funding priorities or budget constraints and
determinations, or changes in government regulations or policies on
the export and import of military and commercial products;
volatility in the global economy or changes in worldwide political
conditions that adversely impact demand for our products;
volatility in interest rates or foreign exchange rates and
inflationary pressures; risks related to our international
business, including establishing and maintaining facilities in
locations around the world and relying on joint venture partners,
subcontractors, suppliers, representatives, consultants and other
business partners in connection with international business,
including in emerging market countries; our Finance segment’s
ability to maintain portfolio credit quality or to realize full
value of receivables; performance issues with key suppliers or
subcontractors; legislative or regulatory actions, both domestic
and foreign, impacting our operations or demand for our products;
our ability to control costs and successfully implement various
cost-reduction activities; the efficacy of research and development
investments to develop new products or unanticipated expenses in
connection with the launching of significant new products or
programs; the timing of our new product launches or certifications
of our new aircraft products; our ability to keep pace with our
competitors in the introduction of new products and upgrades with
features and technologies desired by our customers; pension plan
assumptions and future contributions; demand softness or volatility
in the markets in which we do business; cybersecurity threats,
including the potential misappropriation of assets or sensitive
information, corruption of data or, operational disruption;
difficulty or unanticipated expenses in connection with integrating
acquired businesses; the risk that acquisitions do not perform as
planned, including, for example, the risk that acquired businesses
will not achieve revenue and profit projections; the impact of
changes in tax legislation; the risk of disruptions to our business
and the business of our suppliers, customers and other business
partners due to unexpected events, such as pandemics, natural
disasters, acts of war, strikes, terrorism, social unrest or other
societal, geopolitical or macroeconomic conditions; risks related
to changing U.S. and foreign trade policies, including increased
trade restrictions or tariffs; and the ability of our businesses to
hire and retain the highly skilled personnel necessary for our
businesses to succeed.
TEXTRON INC.
Revenues by Segment and
Reconciliation of Segment Profit to Net Income
(Dollars in millions, except per
share amounts)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 28,
2024
December 30,
2023
December 28,
2024
December 30,
2023
REVENUES
MANUFACTURING:
Textron Aviation
$
1,282
$
1,524
$
5,284
$
5,373
Bell
1,129
1,071
3,579
3,147
Textron Systems
311
314
1,241
1,235
Industrial
869
961
3,515
3,841
Textron eAviation
11
10
33
32
3,602
3,880
13,652
13,628
FINANCE
11
12
50
55
Total revenues
$
3,613
$
3,892
$
13,702
$
13,683
SEGMENT PROFIT
MANUFACTURING:
Textron Aviation
$
100
$
193
$
566
$
649
Bell
110
118
370
320
Textron Systems
42
35
154
147
Industrial
48
57
151
228
Textron eAviation
(22
)
(23
)
(76
)
(63
)
278
380
1,165
1,281
FINANCE
5
4
35
46
Segment profit (a)
283
384
1,200
1,327
Corporate expenses and other, net
(17
)
(45
)
(116
)
(143
)
Interest expense, net for Manufacturing
group
(21
)
(13
)
(78
)
(62
)
LIFO inventory provision
(80
)
(21
)
(176
)
(107
)
Intangible asset amortization
(8
)
(9
)
(34
)
(39
)
Special charges (b)
(53
)
(126
)
(78
)
(126
)
Inventory charge (c)
(38
)
—
(38
)
—
Non-service components of pension and
postretirement income, net
65
60
263
237
Income from continuing operations before
income taxes
131
230
943
1,087
Income tax (expense) benefit
10
(31
)
(118
)
(165
)
Income from continuing
operations
$
141
$
199
$
825
$
922
Discontinued operations, net of income
taxes
—
(1
)
(1
)
(1
)
Net income
$
141
$
198
$
824
$
921
Earnings Per Share from continuing
operations
$
0.76
$
1.01
$
4.34
$
4.57
Diluted average shares outstanding
185,567,000
197,584,000
190,307,000
201,774,000
Income from continuing operations and
Diluted earnings per share (EPS) GAAP to Non-GAAP
Reconciliation:
Three Months Ended
Twelve Months Ended
December 28,
2024
December 30,
2023
December 28,
2024
December 30,
2023
Income from continuing operations -
GAAP
$
141
$
199
$
825
$
922
Add: LIFO inventory provision, net of
tax
61
16
133
81
Intangible asset amortization, net of
tax
7
7
26
30
Special charges, net of tax (b)
39
94
58
94
Adjusted income from continuing
operations - Non-GAAP (a)
$
248
$
316
$
1,042
$
1,127
Diluted Earnings Per Share:
Income from continuing operations -
GAAP
$
0.76
$
1.01
$
4.34
$
4.57
Add: LIFO inventory provision, net of
tax
0.33
0.08
0.70
0.40
Intangible asset amortization, net of
tax
0.04
0.04
0.14
0.15
Special charges, net of tax (b)
0.21
0.47
0.30
0.47
Adjusted income from continuing
operations - Non-GAAP (a)
$
1.34
$
1.60
$
5.48
$
5.59
TEXTRON INC. Revenues by Segment and
Reconciliation of Segment Profit to Net Income (Continued)
(Dollars in millions, except per share amounts) (Unaudited)
(a) Segment profit, adjusted income from continuing operations and
adjusted diluted earnings per share are non-GAAP financial measures
as defined in "Non-GAAP Financial Measures and Outlook" attached to
this release. (b) We recorded pre-tax special charges under
our 2023 restructuring plan of $53 million and $78 million in the
three and twelve months ended December 28, 2024, respectively. In
December 2024, actions were taken under this plan at the Industrial
segment in the Textron Specialized Vehicles business related to an
indefinite pause in production of its powersports products. In the
fourth quarter of 2024, special charges primarily included contract
termination costs of $32 million and severance costs of $20
million. For the full year 2024, special charges included severance
costs of $43 million and contract termination costs of $32 million.
Pre-tax special charges for the three and twelve months ended
December 30, 2023 totaled $126 million, which included $87 million
in asset impairment charges related to both fixed and intangible
assets within the powersports product line and fixed assets at
Kautex, along with $39 million in severance costs. (c) As a
result of the indefinite production pause discussed above, we
incurred an inventory valuation charge to write down
production-related powersports inventory to its net realizable
value.
TEXTRON INC.
Condensed Consolidated Balance
Sheets
(In millions)
(Unaudited)
December 28,
2024
December 30,
2023
Assets
Cash and equivalents
$
1,386
$
2,121
Accounts receivable, net
949
868
Inventories
4,071
3,914
Other current assets
687
857
Net property, plant and equipment
2,529
2,477
Goodwill
2,288
2,295
Other assets
4,248
3,663
Finance group assets
680
661
Total Assets
$
16,838
$
16,856
Liabilities and Shareholders'
Equity
Current portion of long-term debt
$
357
$
357
Accounts payable
943
1,023
Other current liabilities
3,094
2,998
Other liabilities
1,945
1,904
Long-term debt
2,890
3,169
Finance group liabilities
405
418
Total Liabilities
9,634
9,869
Total Shareholders' Equity
7,204
6,987
Total Liabilities and Shareholders'
Equity
$
16,838
$
16,856
TEXTRON INC.
MANUFACTURING GROUP
Condensed Schedule of Cash
Flows
(In millions)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 28,
2024
December 30,
2023
December 28,
2024
December 30,
2023
Cash Flows from Operating
Activities:
Income from continuing operations
$
136
$
194
$
796
$
884
Depreciation and amortization
103
103
382
395
Deferred income taxes and income taxes
receivable/payable
(59
)
(106
)
(71
)
(183
)
Pension, net
(56
)
(50
)
(225
)
(202
)
Asset impairments and powersports
inventory charge
39
87
41
88
Changes in assets and liabilities:
Accounts receivable, net
(75
)
36
(96
)
(9
)
Inventories
277
300
(194
)
(359
)
Accounts payable
(146
)
(200
)
(69
)
2
Other, net
228
169
444
654
Net cash from operating
activities
447
533
1,008
1,270
Cash Flows from Investing
Activities:
Capital expenditures
(153
)
(178
)
(364
)
(402
)
Net cash used in business acquisitions
—
—
(13
)
(1
)
Net proceeds from corporate-owned life
insurance policies
58
1
85
40
Proceeds from sale of property, plant and
equipment
1
14
4
18
Net cash from investing
activities
(94
)
(163
)
(288
)
(345
)
Cash Flows from Financing
Activities:
Decrease in short-term debt
(1
)
—
(1
)
—
Net proceeds from long-term debt
—
347
—
348
Principal payments on long-term debt and
nonrecourse debt
(1
)
(2
)
(361
)
(7
)
Purchases of Textron common stock
(232
)
(283
)
(1,122
)
(1,168
)
Dividends paid
(4
)
(4
)
(12
)
(16
)
Other financing activities, net
(1
)
7
58
67
Net cash from financing
activities
(239
)
65
(1,438
)
(776
)
Total cash flows from continuing
operations
114
435
(718
)
149
Total cash flows from discontinued
operations
—
—
(1
)
(1
)
Effect of exchange rate changes on cash
and equivalents
(17
)
15
(16
)
10
Net change in cash and
equivalents
97
450
(735
)
158
Cash and equivalents at beginning of
period
1,289
1,671
2,121
1,963
Cash and equivalents at end of
period
$
1,386
$
2,121
$
1,386
$
2,121
Manufacturing Cash Flow GAAP to
Non-GAAP Reconciliation:
Three Months Ended
Twelve Months Ended
December 28,
2024
December 30,
2023
December 28,
2024
December 30,
2023
Net cash from operating activities -
GAAP
$
447
$
533
$
1,008
$
1,270
Less: Capital expenditures
(153
)
(178
)
(364
)
(402
)
Plus: Total pension contribution
11
11
44
45
Proceeds from sale of property, plant and
equipment
1
14
4
18
Manufacturing cash flow before pension
contributions - Non-GAAP (a)
$
306
$
380
$
692
$
931
(a) Manufacturing cash flow before pension contributions is a
non-GAAP financial measure as defined in "Non-GAAP Financial
Measures and Outlook" attached to this release.
TEXTRON INC.
Condensed Consolidated
Schedule of Cash Flows
(In millions)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 28,
2024
December 30,
2023
December 28,
2024
December 30,
2023
Cash Flows from Operating
Activities:
Income from continuing operations
$
141
$
199
$
825
$
922
Depreciation and amortization
103
103
382
395
Deferred income taxes and income taxes
receivable/payable
(61
)
(112
)
(74
)
(188
)
Pension, net
(56
)
(50
)
(225
)
(202
)
Asset impairments and powersports
inventory charge
39
87
41
88
Changes in assets and liabilities:
Accounts receivable, net
(75
)
36
(96
)
(9
)
Inventories
277
300
(194
)
(359
)
Accounts payable
(146
)
(200
)
(69
)
2
Captive finance receivables, net
(5
)
15
(1
)
(17
)
Other, net
229
171
426
635
Net cash from operating
activities
446
549
1,015
1,267
Cash Flows from Investing
Activities:
Capital expenditures
(153
)
(178
)
(364
)
(402
)
Net cash used in business acquisitions
—
—
(13
)
(1
)
Net proceeds from corporate-owned life
insurance policies
58
1
85
40
Proceeds from sale of property, plant and
equipment
1
14
4
18
Finance receivables repaid
2
—
25
26
Finance receivables originated
(3
)
—
(21
)
—
Other investing activities, net
—
—
—
2
Net cash from investing
activities
(95
)
(163
)
(284
)
(317
)
Cash Flows from Financing
Activities:
Decrease in short-term debt
(1
)
—
(1
)
—
Net proceeds from long-term debt
—
347
—
348
Principal payments on long-term debt and
nonrecourse debt
(2
)
(3
)
(377
)
(44
)
Purchases of Textron common stock
(232
)
(283
)
(1,122
)
(1,168
)
Dividends paid
(4
)
(4
)
(12
)
(16
)
Other financing activities, net
(1
)
7
58
67
Net cash from financing
activities
(240
)
64
(1,454
)
(813
)
Total cash flows from continuing
operations
111
450
(723
)
137
Total cash flows from discontinued
operations
—
—
(1
)
(1
)
Effect of exchange rate changes on cash
and equivalents
(17
)
15
(16
)
10
Net change in cash and
equivalents
94
465
(740
)
146
Cash and equivalents at beginning of
period
1,347
1,716
2,181
2,035
Cash and equivalents at end of
period
$
1,441
$
2,181
$
1,441
$
2,181
TEXTRON INC. Non-GAAP Financial
Measures and Outlook (Dollars in millions, except per share
amounts)
We supplement the reporting of our financial information
determined under U.S. generally accepted accounting principles
(GAAP) with certain non-GAAP financial measures. These non-GAAP
financial measures exclude certain significant items that may not
be indicative of, or are unrelated to, results from our ongoing
business operations. We believe that these non-GAAP measures may be
useful for period-over-period comparisons of underlying business
trends and our ongoing business performance, however, they should
be used in conjunction with GAAP measures. Our non-GAAP measures
should not be considered in isolation or as a substitute for the
related GAAP measures, and other companies may define similarly
named measures differently. We encourage investors to review our
financial statements and publicly filed reports in their entirety
and not to rely on any single financial measure. We utilize the
following definitions for the non-GAAP financial measures included
in this release and have provided a reconciliation of the GAAP to
non-GAAP amounts for each measure:
Segment Profit
Segment profit is an important measure used by our chief
operating decision maker for evaluating performance and for
decision-making purposes. Segment profit for the manufacturing
segments excludes the non-service components of pension and
postretirement income, net; LIFO inventory provision; intangible
asset amortization; interest expense, net for Manufacturing group;
certain corporate expenses; gains/losses on major business
dispositions; special charges; and the inventory valuation charge
to write down production-related powersports inventory. The
measurement for the Finance segment includes interest income and
expense along with intercompany interest income and expense.
Adjusted Income from Continuing
Operations and Adjusted Diluted Earnings Per Share and
Outlook
Adjusted income from continuing operations and adjusted diluted
earnings per share exclude LIFO inventory provision, net of tax;
intangible asset amortization, net of tax; special charges, net of
tax; and gains/losses on major business dispositions, net of tax.
LIFO inventory provision is excluded to improve comparability with
other companies in our industry who have not elected to use the
LIFO inventory costing method. Intangible asset amortization is
excluded to improve comparability as the impact of such
amortization can vary substantially from company to company
depending upon the nature and extent of acquisitions and exclusion
of this expense is consistent with the presentation of non-GAAP
measures provided by other companies within our industry.
Management believes that it is important for investors to
understand that these intangible assets were recorded as part of
purchase accounting and contribute to revenue generation. We
consider items recorded in special charges, such as enterprise-wide
restructuring, certain asset impairment charges, and
acquisition-related restructuring, integration and transaction
costs, to be of a non-recurring nature that is not indicative of
ongoing operations.
Three Months Ended
Twelve Months Ended
December 28,
2024
December 30,
2023
December 28,
2024
December 30,
2023
Income from continuing operations -
GAAP
$
141
$
199
$
825
$
922
Add: LIFO inventory provision, net of
tax
61
16
133
81
Intangible asset amortization, net of
tax
7
7
26
30
Special charges, net of tax
39
94
58
94
Adjusted income from continuing
operations - Non-GAAP
$
248
$
316
$
1,042
$
1,127
Diluted Earnings Per Share:
Income from continuing operations -
GAAP
$
0.76
$
1.01
$
4.34
$
4.57
Add: LIFO inventory provision, net of
tax
0.33
0.08
0.70
0.40
Intangible asset amortization, net of
tax
0.04
0.04
0.14
0.15
Special charges, net of tax
0.21
0.47
0.30
0.47
Adjusted income from continuing
operations - Non-GAAP
$
1.34
$
1.60
$
5.48
$
5.59
2025 Outlook
Diluted EPS
Income from continuing operations -
GAAP
$
955
$
990
$
5.19
$
5.39
Add: LIFO inventory provision, net of
tax
125
0.68
Intangible asset amortization, net of
tax
25
0.13
Adjusted income from continuing
operations - Non-GAAP
$
1,105
—
$
1,140
$
6.00
—
$
6.20
TEXTRON INC. Non-GAAP Financial
Measures and Outlook (Continued) (Dollars in millions, except
per share amounts)
Manufacturing Cash Flow Before Pension
Contributions and Outlook
Manufacturing cash flow before pension contributions adjusts net
cash from operating activities (GAAP) for the following:
- Deducts capital expenditures and includes proceeds from
insurance recoveries and the sale of property, plant and equipment
to arrive at the net capital investment required to support ongoing
manufacturing operations;
- Excludes dividends received from Textron Financial Corporation
(TFC) and capital contributions to TFC provided under the Support
Agreement and debt agreements as these cash flows are not
representative of manufacturing operations;
- Adds back pension contributions as we consider our pension
obligations to be debt-like liabilities. Additionally, these
contributions can fluctuate significantly from period to period and
we believe that they are not representative of cash used by our
manufacturing operations during the period.
While we believe this measure provides a focus on cash generated
from manufacturing operations, before pension contributions, and
may be used as an additional relevant measure of liquidity, it does
not necessarily provide the amount available for discretionary
expenditures since we have certain non-discretionary obligations
that are not deducted from the measure.
Three Months Ended
Twelve Months Ended
December 28,
2024
December 30,
2023
December 28,
2024
December 30,
2023
Net cash from operating activities -
GAAP
$
447
$
533
$
1,008
$
1,270
Less: Capital expenditures
(153
)
(178
)
(364
)
(402
)
Plus: Total pension contributions
11
11
44
45
Proceeds from sale of property, plant and
equipment
1
14
4
18
Manufacturing cash flow before pension
contributions - Non-GAAP
$
306
$
380
$
692
$
931
2025 Outlook
Net cash from operating activities -
GAAP
$
1,175
—
$
1,275
Less: Capital expenditures
(425)
Plus: Total pension contributions
50
Manufacturing cash flow before pension
contributions - Non-GAAP
$
800
—
$
900
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250122436368/en/
Investor Contacts: David Rosenberg – 401-457-2288 Kyle
Williams – 401-457-2288 Media Contact: Mike Maynard –
401-457-2362
Textron (NYSE:TXT)
過去 株価チャート
から 2 2025 まで 3 2025
Textron (NYSE:TXT)
過去 株価チャート
から 3 2024 まで 3 2025
