PROVIDENCE, R.I. (AP) — PROVIDENCE, R.I. (AP) — Textron Inc. (TXT) on Thursday reported first-quarter profit of $220 million.
On a per-share basis, the Providence, Rhode Island-based company said it had net income of $1.25. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.45 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The maker of Cessna small planes and Bell helicopters posted revenue of $3.7 billion in the period.
Textron expects full-year earnings in the range of $6.40 to $6.60 per share.
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