Textron Q4 Profit Increases - Quick Facts

(RTTNews) - Textron Inc. (TXT) reported that its fourth quarter 2014 net income increased to $212 million from the prior year's $167 million, with earnings per share improving to $0.76 from $0.59 last year.

Income from continuing operations was $0.76 per share, up 26.7 percent from $0.60 per share in the fourth quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Textron fourth quarter 2014 results included $13 million in restructuring costs related to the Beechcraft acquisition and Textron Aviation segment profit reflected an $8 million negative impact from fair value step-up adjustments to Beechcraft inventories sold during the quarter.

Revenues in the quarter were $4.1 billion, up 16.8 percent from $3.5 billion in the fourth quarter of 2013. Wall Street expected revenues of $4.30 billion for the quarter. Beechcraft, which was acquired in March, 2014, contributed $556 million to the increase in revenues.

Textron forecasts 2015 revenues of approximately $14.4 billion and earnings per share from continuing operations in the range of $2.30 to $2.50. Wall Street currently is looking for fiscal year 2015 earnings of $2.56 per share on annual revenues of $14.73 billion.