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北京时间·🕒 发布 19:21:02时区推断·⟳ 抓取 19:23:40·⚡ 决策 07-28 19:26:54 +3m14s·91.3 天前
德事隆二季度收入略低于预期但利润超预期并维持全年指引
德事隆二季度收入38.0亿美元同比增长3%，仅比一致预期低约1000万美元，调整后EPS 1.62美元高于1.55美元预期。
📄 原文Seeking Alpha↗ 原文
Textron slips after Q2 revenue just misses estimates, reaffirms full-year outlook
Textron (TXT) topped Wall Street's profit expectations in the second quarter and reaffirmed its full-year outlook, thou…
不做 德事隆（TXT.US）
财报正负混合：收入仅小幅miss、EPS beat且维持指引，但MV-75拨款依赖带来不确定性；盘前已下跌，既不满足强空红线，也没有明确做多surprise，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-07-28 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 德事隆二季度收入38.0亿美元同比增长3%，仅比一致预期低约1000万美元，调整后EPS 1.62美元高于1.55美元预期。
- 公司维持2026全年展望，但该展望依赖MV-75 Cheyenne项目获得额外财政年度拨款，若未获拨款可能削减调整后EPS 0.20至0.30美元并减少制造现金流1.5亿至2.5亿美元。
- 这是财报日预期内披露，正负信息并存且盘前已下跌，缺少明确同向、可量化且尚未定价的交易边界。
主要风险
- MV-75额外拨款未落地是后续盈利与现金流风险，但当前只是条件假设而非已确认损害。
- 财报事件容易被盘前价格快速消化，收入小幅miss和EPS beat相互抵消，追空或抄底都缺少正期望依据。
原文全文
展开原文 · 2,200 字
Textron (TXT) topped Wall Street's profit expectations in the second quarter and reaffirmed its full-year outlook, though revenue came in just shy of analysts' forecasts. Shares slipped 4.5% in premarket trading Tuesday after entering the session up 10% so far this year.
The maker of Cessna and Beechcraft aircraft, Bell helicopters, Pipistrel electric aircraft and E-Z-GO golf carts reported second-quarter revenue of $3.80 billion, up 3% from a year earlier. The result narrowly missed the Wall Street consensus estimate of $3.81 billion by about $10 million.
Adjusted earnings were $1.62 a share, ahead of the $1.55 analyst consensus.
Chief Executive Officer Lisa Atherton said, "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."
Net income rose to $248 million, or $1.42 a share, from $245 million, or $1.35 a share.
Textron (TXT) benefited from broad-based revenue growth across its manufacturing businesses.
Textron Aviation generated $1.54 billion in revenue, up 1%, as stronger pricing and aftermarket parts and service sales offset lower Citation jet deliveries. The division delivered 40 business jets and 44 commercial turboprops during the quarter. Backlog stood at $8.0 billion at quarter end.
Bell revenue climbed 6% to $1.07 billion, driven by higher military production, including work on the MV-75 Cheyenne program and H-1 helicopters. Bell's backlog reached $7.5 billion.
Textron Systems posted 7% revenue growth on stronger armored vehicle production and military training services, while the Industrial segment increased sales 1%. The company also said it has initiated a sale process for its Industrial segment.
Textron (TXT) reaffirmed its full-year 2026 outlook, including:
However, the outlook assumes the company receives additional fiscal 2026 funding for the MV-75 Cheyenne program through an Above Threshold Reprogramming request.
Without that funding, Textron (TXT) said adjusted earnings could be reduced by $0.20 to $0.30 a share, while manufacturing cash flow could decline by $150 million to $250 million.
The maker of Cessna and Beechcraft aircraft, Bell helicopters, Pipistrel electric aircraft and E-Z-GO golf carts reported second-quarter revenue of $3.80 billion, up 3% from a year earlier. The result narrowly missed the Wall Street consensus estimate of $3.81 billion by about $10 million.
Adjusted earnings were $1.62 a share, ahead of the $1.55 analyst consensus.
Chief Executive Officer Lisa Atherton said, "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."
Net income rose to $248 million, or $1.42 a share, from $245 million, or $1.35 a share.
Textron (TXT) benefited from broad-based revenue growth across its manufacturing businesses.
Textron Aviation generated $1.54 billion in revenue, up 1%, as stronger pricing and aftermarket parts and service sales offset lower Citation jet deliveries. The division delivered 40 business jets and 44 commercial turboprops during the quarter. Backlog stood at $8.0 billion at quarter end.
Bell revenue climbed 6% to $1.07 billion, driven by higher military production, including work on the MV-75 Cheyenne program and H-1 helicopters. Bell's backlog reached $7.5 billion.
Textron Systems posted 7% revenue growth on stronger armored vehicle production and military training services, while the Industrial segment increased sales 1%. The company also said it has initiated a sale process for its Industrial segment.
Textron (TXT) reaffirmed its full-year 2026 outlook, including:
However, the outlook assumes the company receives additional fiscal 2026 funding for the MV-75 Cheyenne program through an Above Threshold Reprogramming request.
Without that funding, Textron (TXT) said adjusted earnings could be reduced by $0.20 to $0.30 a share, while manufacturing cash flow could decline by $150 million to $250 million.
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