Textron Aviation 2019 Q4 Results – Citation Longitude Drives GrowthPosted by KingAirNation — Friday, February 7, 2020
It was a solid quarter for Textron Aviation with the entry of the Citation Longitude into service, though commercial turboprop production was down from this time last year.
“Textron Aviation saw double digit revenue growth in the quarter driven largely by initial deliveries of our new Citation Longitude, reflecting our continued investment in new products,” said Textron Chairman and CEO Scott C. Donnelly. “We also saw growth from strong commercial volume at Bell.”
Revenues at Textron Aviation of $1.7 billion were up 11%, primarily due to higher volume and mix, largely reflecting the Longitude’s entry into service.
Textron Aviation delivered 71 jets, up from 63 last year, and 59 commercial turboprops, down from 67 last year.
Segment profit was $134 million in the fourth quarter, down from $170 million a year ago, primarily due to the mix of products sold and an unfavorable impact from inflation, net of pricing.
Textron Aviation backlog at the end of the fourth quarter was $1.7 billion.