Textron Narrows Full-Year EPS, Cash Guidance - Quick Facts

(RTTNews) - Textron Inc. (TXT) announced the company now expects full-year 2018 GAAP earnings per share from continuing operations will be in the range of $4.81 to $4.91, or $3.20 to $3.30 on an adjusted basis. The company reaffirmed full-year manufacturing cash flow before pension contributions to be in a range of $750 to $850 million.

The company reported third quarter 2018 income from continuing operations of $2.26 per share, reflecting the gain on the sale of the Tools & Test product line of $1.65 per share, or $0.61 per share of adjusted income from continuing operations, compared to $0.65 per share of adjusted income from continuing operations in the third quarter of 2017.

"Revenues were lower in the quarter, largely reflecting declines at Industrial and Textron Systems. Operationally, we achieved margin improvements at Aviation and Bell, reflecting strong execution within those segments," said Textron CEO Scott Donnelly.

Net cash provided by operating activities of continuing operations of the manufacturing group for the third quarter totaled $319 million, compared to $79 million in last year's third quarter.