Textron rises after Q3 profit beat and raises profit forecast
TXT•Textron shares rose 7.7% premarket after the company reported third-quarter adjusted EPS of $1.76, above analysts’ $1.45 estimate, and raised its full-year adjusted EPS forecast to $6.55-$6.65 from $6.40-$6.60. Revenue was $3.75 billion, in line with expectations.
1. Profit and outlook
Textron reported third-quarter adjusted EPS of $1.76, compared with analysts’ estimate of $1.45. The company raised its full-year adjusted EPS forecast to $6.55-$6.65, from its previous range of $6.40-$6.60.
2. Revenue and shares
Third-quarter revenue was $3.75 billion, in line with analysts’ expectations. Textron shares rose 7.7% to $84.30 in premarket trading and were set to open at their highest level in about two months if the gains held.
