April 28th 2015 – Textron Inc. reported their first quarter 2015 income as being $0.46 per share. This is up from $0.31 per share during the same income period in 2014, (a 48.4 percent increase). The increase was “primarily reflecting the impact of the Beechcraft acquisition” in March last year according to Scott Donnelly, chairman and CEO of parent company Textron.
“Operationally, we achieved significantly margin improvements at Textron Aviation and Industrial, reflecting strong performance in these segments,” said Donnelly.
Total revenue of Textron’s Aviation division was up $266 million. The company was able to deliver 33 new jets in the quarter and 25 King Air turboprops. The sales allowed for a segment profit of $67 million in the first quarter. This trumps the $14 million made in the first quarter last year. In addition to the success of the Beechcraft acquisition, the increase was attributed to overall performance improvement of the division as a whole and a larger production volume.