Textron Q4 Results Miss Estimates; Sees FY16 EPS Below View - Quick Facts

(RTTNews) - Textron Inc. (TXT), a multi-industry company engaged in aircraft, defense, industrial and finance businesses, reported Wednesday that its fourth-quarter net income increased to $226 million from $212 million last year. Earnings per share were $0.82, higher than $0.76 last year.

Income from continuing operations was $225 million or $0.81 per share in the latest quarter.

On average, 13 analysts polled by Thomson Reuters expected earnings of $0.83 per share. Analysts' estimates typically exclude one-time items.

Revenues in the quarter were $3.92 billion, down 4.2 percent from $4.10 billion in the fourth quarter of 2014. Analysts expected revenues of $4.23 billion.

Looking ahead, Textron forecasts 2016 revenues of approximately $14.3 billion, up six percent, and earnings per share from continuing operations in the range of $2.60 to $2.80. Analysts estimate earnings of $2.88 per share on revenues of $14.29 billion.

Textron Chairman and CEO Scott Donnelly said, "Our outlook for 2016 reflects the success of our strategy of investing in both new product development and acquisitions. As we look to the future, we remain committed to making investments to drive growth and shareholder value."