A Textron, controller of Textron Aviation, reported its Q2024 XNUMX financial results at the end of July. A Textron Aviation, known for its brands Cessna e Beechcraft, is a giant in the general aviation industry. A Textron is also the owner of Bell Helicopter, one of the leading manufacturers of commercial and military helicopters in the USA.
A Textron reported earnings of about $1,35 per share for the second quarter, compared with $1,30 per share in the same period last year. Additionally, the company reported that its net cash for the quarter was $383 million, representing growth from last year's $314 million.
The president and executive director of Textron, Scott Donnelly, said:
“In the quarter, our team delivered higher revenue, earnings per share and cash flow. At Aviation and Bell, we continue to execute important programs, including Citation Ascend and FLRAA.”
The company recorded the delivery of 42 executive jets throughout the quarter, a small drop compared to the 44 delivered last year. All jets were the model Cessna Citation, the only executive jet currently produced by Textron Aviation.
The company's delivery of 44 commercial turboprops represented a significant increase from the 37 delivered in the second quarter of last year. The aircraft included models from Cessna and Beechcraft, including the Cessna Caravan and Beechcraft King Air.
This quarter, the Textron Aviation reported segment profit of $195 million, an increase of $24 million from the same period last year. A Textron attributes this improvement to an increase in sales volume and positive pricing conditions. The backlog of Textron Aviation at the end of the second quarter it was around US$7,5 billion.
A Bell Helicopter, which is also part of Textron, specializes in the production of rotary-wing aircraft for the commercial sector and has contracts with several international military forces. Recently, the Bell Helicopter reported revenue of US$794 million, an increase of US$93 million compared to the previous year. This growth is attributed to the significant increase in military contracts, which totaled US$104 million, largely due to the program Future Long-Range Assault Aircraft (FLRAA).
Despite this, the Bell Helicopter delivered 32 commercial helicopters, a slight reduction compared to the 35 delivered in the same period last year. Overall, the company reported a profit of $82 million, increasing by $17 million from the previous year. A Textron attributes this growth to decreased research and development costs. At the end of the second quarter, the Bell Helicopter had a backlog of US$4,2 billion.
