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Textron Reports Higher Profits, Sales On Acquisition, Improved Performance

Cal Biesecker By
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Textron Reports Higher Profits, Sales On Acquisition, Improved Performance
Textron is still searching for its first buyer for Scorpion. Photo: Textron.

Textron [TXT] on Wednesday posted strong increases in sales and income in the second quarter driven by the company’s acquisition of Beechcraft this year, a favorable settlement with the Defense Department and solid performance. Net income climbed 27 percent to $144 million, 51 cents earnings per share (EPS), from $113 million (40 cents EPS) a year ago, topping consensus estimates by a nickel. Sales increased nearly 24 percent to $3.5 billion versus $2.8 billion a year ago. The sales growth…

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