德事隆公布2026年二季度业绩，EPS小幅超预期但全年指引未上调且现金流走弱

EPS of $1.42; adjusted EPS of $1.62, up from $1.55 in the prior year
Revenues of $3.8 billion, up 3%, or $111 million, compared to the prior year
Revenues up $500 million, or 7%, in the first half of 2026, compared to the prior year
Initiated sale process for the Industrial Segment
PROVIDENCE, R.I.--(BUSINESS WIRE)--
Textron Inc. (NYSE: TXT) today reported second quarter 2026 net income of $1.42 per share, compared to $1.35 in the second quarter of 2025. Adjusted net income, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $1.62 per share for the second quarter of 2026, compared to $1.55 per share in the second quarter of 2025.
"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,” said Textron CEO Lisa M. Atherton. “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."
Cash Flow
Net cash provided by operating activities of the manufacturing group for the second quarter was $235 million, compared to $395 million in last year's second quarter. Manufacturing cash flow before pension contributions, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, totaled $154 million for the second quarter, compared to $336 million in last year's second quarter.
In the quarter, Textron returned $209 million to shareholders through share repurchases.
Outlook
Textron reiterated its expectation for full-year 2026 GAAP earnings per share from continuing operations to be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release. Textron also reiterated manufacturing cash flow before pension contributions, a non-GAAP measure, to be in the range of $700 million to $800 million.
The company's current full year outlook assumes receipt of additional fiscal year 2026 funding on the MV-75 Cheyenne program through an Above Threshold Reprogramming request. Absent the receipt of any additional funding and inclusive of other outlook assumptions, our adjusted EPS could be negatively impacted by $0.20 to $0.30 and cash flow could also be negatively impacted by $150 million to $250 million.
Second Quarter Segment Results
Textron Aviation
Textron Aviation’s revenues were $1.5 billion, up 1%, or $22 million from last year's second quarter, reflecting higher aircraft revenues of $17 million and higher aftermarket parts and services revenues of $5 million. The increase in aircraft revenues was primarily due to higher pricing, partially offset by lower volume and mix. The decrease in volume and mix largely reflected lower Citation jet and defense volume, partially offset by higher commercial turboprop volume.
Textron Aviation delivered 40 jets in the quarter, compared with 49 in the second quarter of 2025, and 44 commercial turboprops, up from 34 in last year's second quarter.
Segment profit was $165 million in the second quarter, down $5 million, or 3% from a year ago, primarily due to an unfavorable impact from manufacturing inefficiencies and lower aircraft volume and mix, partially offset by lower warranty costs.
Textron Aviation backlog at the end of the second quarter was $8.0 billion.
Bell
Bell revenues were $1.1 billion, up 6%, or $58 million from the second quarter of 2025. The revenue increase in the quarter was driven by higher military revenues of $47 million, largely due to higher volume on H-1 production and the MV-75 program. Commercial helicopters, parts and services revenues increased $11 million compared to the second quarter of 2025, primarily due to higher pricing.
Bell delivered 36 commercial helicopters in the quarter, up from 32 in last year's second quarter.
Segment profit of $75 million was down $5 million, or 6%, from last year's second quarter, primarily due to an unfavorable impact from program performance and from the mix of military programs, partially offset by lower research and development costs.
Bell backlog at the end of the second quarter was $7.5 billion.
Textron Systems
Textron Systems revenues were $347 million, up 7%, or $23 million from the second quarter of 2025, primarily due to higher volume on armored land vehicles and military training and support services provided by Airborne Tactical Advantage Company (ATAC).
Segment profit of $44 million was up $4 million, or 10%, compared with the second quarter of 2025, primarily due to lower research and development costs.
Textron Systems backlog at the end of the second quarter was $3.3 billion.
Industrial
Industrial revenues were $848 million, up 1%, or $9 million from the second quarter of 2025.
Kautex revenues increased $17 million, largely due to a favorable impact from pricing and from foreign exchange rate fluctuations. Textron Specialized Vehicles' revenues decreased $8 million, reflecting lower volume and mix and the impact from the disposition of the Powersports business, partially offset by higher pricing.
Segment profit of $59 million was up $5 million, or 9%, from the second quarter of 2025, primarily due to higher pricing, net of inflation, partially offset by lower volume and mix. Pricing, net of inflation includes tariffs recovered in the second quarter of 2026 that were previously imposed under the International Emergency Economic Powers Act (IEEPA).
Finance
Finance segment revenues were $14 million, and profit was $10 million in the second quarter of 2026, as compared to segment revenues of $15 million and profit of $8 million in the second quarter of 2025.
Conference Call Information
Textron will host its conference call today, July 28, 2026 at 8:00 a.m. (Eastern) to discuss its second quarter results and outlook. The call will be available via webcast at
www.textron.com
or by direct dial at (888) 596-4144 in the U.S. or (646) 968-2525 outside of the U.S.; Access Code: 6969175.
In addition, the call will be recorded and available for playback beginning at 11:00 a.m. (Eastern) on Tuesday, July 28, 2026 by dialing (800) 770-2030; Access Code: 6969175.
A package containing key data that will be covered on today’s call can be found in the Investor Relations section of the company’s website at
www.textron.com
.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, and Textron Systems. For more information visit:
www.textron.com
.
Forward-looking Information
Certain statements in this release and other oral and written statements made by us from time to time are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures, often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “guidance,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on whi