Textron recently announced their 4th quarter results, where it was noted revenues at Textron Aviation were $1.4 billion; down 3 percent, primarily due to lower military volume.
For the quarter, Textron Aviation delivered 58 new Citation jets, flat with last year, 31 King Air turboprops up from 28 in last year’s fourth quarter, and 2 Beechcraft T-6 trainers, down from 8 last year.
Segment profit was $120 million in the fourth quarter, down from $135 million a year ago. Textron attributed this primarily due to higher research and development expense.
Textron Aviation backlog at the end of the fourth quarter was $1.2 billion, up $15 million from the end of the third quarter.
Despite the lack of growth, Textron chief executive Scott Donnelly was positive, saying: “There’s no question that the level of activity out there is stronger than we’ve seen for some time.” Donnelly pointed out the strengthening global economy, changes in U.S. economics (tax reform, weaker dollar), and increased interest in the product as positive signs.
Textron Aviation delivered 86 Beechcraft King Airs in 2017 – down from 106 during the previous 12 months.