Revenues Up 12% for Textron Aviation’s Q1 2019 EarningsPosted by KingAirNation — Friday, April 26, 2019
Textron announced their Q1 2019 earnings this week, and things were flying high for Textron aviation with revenues of $1.1 billion were up 12%, primarily due to higher volume and mix across the jet and commercial turboprop product lines.
Textron Aviation delivered 44 jets, up from 36 last year, and 44 commercial turboprops, up from 29 last year.
The report did not further breakdown the turboprop sales.
Segment profit was $106 million in the first quarter, up from $72 million a year ago, due to the higher volume and favorable performance.
Textron Aviation backlog at the end of the first quarter was $2.0 billion, up $204 million from year-end.
Textron CEO Scott Donnelly noted first flight for the Cessna Denali turboprop and SkyCourier high-wing turboprop twin is expected by the year’s end:
“We’re obviously are a little bit behind from where we’d like to be on a couple of them based on a lot of the resource still being tied up on the Longitude certification, but the critical things that need to happen continue to happen, and I think both programs are on track to be great aircraft.” Donnelly said.