What Happened
Aerospace And Defense Firm Sees Stock Slip Despite Strong Results
Textron reported strong Q3 earnings, with adjusted EPS of $1.76 and manufacturing cash flow of $418 million. Despite this, the company’s stock price slipped 2% to around $85.70. The earnings report showed a 4.1% increase in revenue and a 14.9% increase in net income compared to the same period last year. According to Simply Wall St News, Textron’s execution story is meeting real program milestones, with the company investing in productivity tools and capacity additions.