Textron Aviation parent company Textron Inc. recently announced its third quarter 2017 earnings noting that a strong dollar and weak international economies have impacted sales and deliveries of King Air.
24 King Air were delivered for the quarter; five fewer than the same time period as last year.
Revenue for the quarter was $1.15 billion, $44 million lower compared to 2016’s third quarter. Profits were slightly down to $93 million compared to the $100 million of the same quarter in 2016.
Textron Inc. CEO Scott Donnelly believes strong U.S. dollar and pockets of weak international economies are heavily affecting sales and deliveries of King Air which tend to have a higher demand overseas.
While improved from the second quarter of 2017, Donelly noted upon revenues, that, “all in all, it’s still a little light.”
A bright spot was that Textron Aviation improved its backlog in the third quarter of 2017, which rose by $142 million to $1.2 billion from the second quarter of 2017.