Lower profits at its Bell segment combined with acquisition and restructuring costs related to its purchase of Beechcraft in March drove earnings down at Textron Inc. [TXT] in the first quarter. Net income dropped 29 percent to $85 million, 30 cents earnings per share (EPS), from $119 million (41 cents EPS), from a year ago. Excluding the impact of discontinued operations, per share earnings were 31 cents, three cents below consensus expectations. Bell was the company’s only segment posting lower operating profits,…
Textron Reports Lower Income Despite Flat Sales In Opening Quarter
Defense Daily Staff
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