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北京时间·🕒 发布 18:31:42时区推断·⟳ 抓取 18:32:11·⚡ 决策 07-28 20:26:36 +1h54m·91.2 天前
Textron 二季度 EPS 小幅超预期、收入和全年指引基本符合预期，并启动工业板块出售流程
二季度收入 38 亿美元基本符合预期，调整后 EPS 1.62 美元略高于 1.55 美元预期，但全年调整后 EPS 指引 6.40–6.60 美元与 6.52 美元一致预期基本贴合。
📄 原文Wall St Engine@wallstengine↗ 原文
TEXTRON $TXT Q2’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $3.8B (Est. $3.80B) 🟡; +3% YoY 🔹 Adj. EPS: $1.62 (Est. $1.55) 🟢; +5%…
不做 Textron（TXT.US）
财报 EPS 仅小幅超预期，收入和全年指引基本符合预期，工业板块出售流程属于 4 月已披露分拆计划推进；当前缺少足以支撑财报日追多的新增 surprise。
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研究档案
消息传播链
- Textron 已在一季度公告中披露拟分离工业板块，出售或免税分拆均是已讨论路径。
- 公司预告将在 2026-07-28 盘前发布二季度业绩并于 08:00 ET 举行电话会。
- 社交财经账号汇总 Q2 业绩：收入符合、EPS 小超、全年指引维持，并称工业板块启动出售流程。
关键理由
- 二季度收入 38 亿美元基本符合预期，调整后 EPS 1.62 美元略高于 1.55 美元预期，但全年调整后 EPS 指引 6.40–6.60 美元与 6.52 美元一致预期基本贴合。
- 工业板块出售流程是 2026-04-30 已披露分拆计划的推进，不是首次战略重估催化。
- 制造现金流 1.54 亿美元低于去年同期 3.36 亿美元，抵消了小幅 EPS beat 的短线追多吸引力。
主要风险
- 若电话会给出工业板块出售估值或 Bell/MV-75 明显上修信息，可能形成后续新催化。
- 美股盘前流动性较低，财报日开盘跳空方向可能由电话会细节主导。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-07-28 · 影响 weakens
全年 EPS 指引未上修且制造现金流同比下降，削弱财报小幅 EPS beat 的追多价值。
检索:Textron Q2 2026 earnings guidance industrial segment sale process cash flow 原文 ↗
原文全文
展开原文 · 1,152 字
TEXTRON $TXT Q2’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $3.8B (Est. $3.80B) 🟡; +3% YoY
🔹 Adj. EPS: $1.62 (Est. $1.55) 🟢; +5% YoY
🔸 Initiated Sale Process: Industrial Segment
Affirms FY26 Guide:
🔹 Adjusted EPS: $6.40-$6.60 (Est. $6.52) 🟡
🔹 GAAP EPS: $5.39-$5.59
🔹 Manufacturing Cash Flow Before Pension Contributions: $700M-$800M
Segment Net Revenue:
🔹 Textron Aviation: $1.5B; +1% YoY
🔹 Bell: $1.1B; +6% YoY
🔹 Textron Systems: $347M; +7% YoY
🔹 Industrial: $848M; +1% YoY
Other Q2 Metrics:
🔹 Manufacturing Cash Flow Before Pension Contributions: $154M; vs $336M LY
🔹 Textron Aviation Backlog: $8.0B
🔹 Bell Backlog: $7.5B
Capital Return:
🔹 Buybacks: $209M
Comments:
🔸 “The second quarter continued a strong start to the year for Textron with revenue growth in each of our manufacturing segments contributing to higher revenues of $500 million through the first half of the year.”
🔸 “Bell continued to advance the MV-75 Cheyenne with the successful production of key long-lead parts and components. At Textron Aviation, healthy demand drove strong order activity and the Ascend continued to scale with the delivery of the first five aircraft to NetJets.”
🔹 Revenue: $3.8B (Est. $3.80B) 🟡; +3% YoY
🔹 Adj. EPS: $1.62 (Est. $1.55) 🟢; +5% YoY
🔸 Initiated Sale Process: Industrial Segment
Affirms FY26 Guide:
🔹 Adjusted EPS: $6.40-$6.60 (Est. $6.52) 🟡
🔹 GAAP EPS: $5.39-$5.59
🔹 Manufacturing Cash Flow Before Pension Contributions: $700M-$800M
Segment Net Revenue:
🔹 Textron Aviation: $1.5B; +1% YoY
🔹 Bell: $1.1B; +6% YoY
🔹 Textron Systems: $347M; +7% YoY
🔹 Industrial: $848M; +1% YoY
Other Q2 Metrics:
🔹 Manufacturing Cash Flow Before Pension Contributions: $154M; vs $336M LY
🔹 Textron Aviation Backlog: $8.0B
🔹 Bell Backlog: $7.5B
Capital Return:
🔹 Buybacks: $209M
Comments:
🔸 “The second quarter continued a strong start to the year for Textron with revenue growth in each of our manufacturing segments contributing to higher revenues of $500 million through the first half of the year.”
🔸 “Bell continued to advance the MV-75 Cheyenne with the successful production of key long-lead parts and components. At Textron Aviation, healthy demand drove strong order activity and the Ascend continued to scale with the delivery of the first five aircraft to NetJets.”
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