PROVIDENCE, R.I. (AP) — PROVIDENCE, R.I. (AP) — Textron Inc. (TXT) on Thursday reported first-quarter net income of $201 million.
The Providence, Rhode Island-based company said it had profit of $1.03 per share. Earnings, adjusted for non-recurring costs, came to $1.20 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The maker of Cessna small planes and Bell helicopters posted revenue of $3.14 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $3.34 billion.
Textron expects full-year earnings in the range of $6.20 to $6.40 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXT at https://www.zacks.com/ap/TXT
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