:

Business/Financial

Textron Reports Lower Income Despite Flat Sales In Opening Quarter

By Cal Biesecker

Thursday, May 1st, 2014

SHARE:

Textron Reports Lower Income Despite Flat Sales In Opening Quarter

A US. Marine Corps V-22 lifting off a ship. Photo: U.S. Navy

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…

Congress

Dems’ Big Night Set To Reshape Top Defense Committee Spots, As Key GOP’ers Knocked Off

Democrats’ sweeping victories in Tuesday’s midterms, taking back control of the House and Senate, are set to reshape key spots atop defense committees, to include House Armed Services panels and […]

Congress

Key Defense Committee Members Face Tight Midterm Races, Including HASC GOP’ers In Virginia

As the mid-term elections near with polls showing an increasing likelihood of a switch in majority control in the House and potentially the Senate, three Virginia Republicans on the House […]

‘Theoretical Potential’ to Achieve 1,509 Combat-Coded Fighters by 2035, USAF Says

In the latest U.S. Air Force fighter force structure report submitted to Congress, the service speaks of a “theoretical potential” to achieve a goal of 1,509 combat-coded fighters in the […]

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]