Textron beats by $0.24, beats on revs; reaffirms FY18 EPS guidance
- Reports Q1 (Mar) earnings of $0.72 per share, $0.24 better than the Capital IQ Consensus of $0.48; revenues rose 6.6% year/year to $3.3 bln vs the $3.06 bln Capital IQ Consensus.
- Co reaffirms guidancefor FY18, sees EPS of $2.95-3.15 vs. $3.07 Capital IQ Consensus Estimate.
- Co also confirms expectation for cash flow from continuing operations of the manufacturing group before pension contributions of $700-800 million
- Share Repurchase Plan
- Textron's Board of Directors has also authorized the repurchase of up to 40 million shares of the company's common stock which is sufficient for repurchases related to the Tools & Test divestiture as well as to continue the company's practice of repurchasing shares to offset the impact of dilution from stock-based compensation and benefit plans, and for opportunistic capital management purposes. The new authorization replaces a previous one, approved in January 2017, which was nearing completion.
No comments:
Post a Comment