Textron Inc. Files Q3 2024 10-Q
Ticker: TXT · Form: 10-Q · Filed: 2024-10-24T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, aircraft
TL;DR
Textron's Q3 2024 10-Q is in. Check assets, liabilities, and debt.
AI Summary
Textron Inc. reported its third-quarter results for the period ending September 28, 2024. The company's financial statements indicate various assets and liabilities, including long-term debt and property, plant, and equipment. Specific financial figures and comparative data from previous periods are detailed within the filing.
Why It Matters
This filing provides investors with the latest financial performance and position of Textron Inc., crucial for understanding the company's health and future prospects.
Risk Assessment
Risk Level: medium — The filing contains detailed financial information, including debt and assets, which requires careful analysis to assess the company's financial health and associated risks.
Key Numbers
- 12-28 2024 — Fiscal Year End (Indicates the end of the company's fiscal year.)
- 2023-12-31 — Previous Year End (Provides a comparative point for financial analysis.)
- 2024-09-28 — Current Period End (Marks the end of the reporting period for this 10-Q.)
Key Players & Entities
- TEXTRON INC (company) — Filer
- 0000217346 (company) — Central Index Key
- 20240928 (date) — Period of Report
- 20241024 (date) — Filed as of Date
- 4014212800 (dollar_amount) — Business Phone
FAQ
What is Textron Inc.'s fiscal year end?
Textron Inc.'s fiscal year ends on 12-28.
What is the SEC file number for Textron Inc.?
The SEC file number for Textron Inc. is 001-05480.
What is the SIC code for Textron Inc.?
The Standard Industrial Classification (SIC) code for Textron Inc. is 3720 (AIRCRAFT & PARTS).
When was Textron Inc. formerly known as American Textron Inc.?
The company changed its name from American Textron Inc. on 19710510.
What is the filing date of this 10-Q report?
This 10-Q report was filed on 20241024.
Filing Stats: 4,805 words · 19 min read · ~16 pages · Grade level 15.3 · Accepted 2024-10-24 11:32:00
Key Financial Figures
- $0.125 — ange on which registered Common stock, $0.125 par value TXT New York Stock Exchange (
Filing Documents
- txt-20240928.htm (10-Q) — 1429KB
- q3202410qex-311.htm (EX-31.1) — 10KB
- q3202410qex-312.htm (EX-31.2) — 10KB
- q3202410qex-321.htm (EX-32.1) — 5KB
- q3202410qex-322.htm (EX-32.2) — 5KB
- 0000217346-24-000092.txt ( ) — 8031KB
- txt-20240928.xsd (EX-101.SCH) — 44KB
- txt-20240928_cal.xml (EX-101.CAL) — 98KB
- txt-20240928_def.xml (EX-101.DEF) — 219KB
- txt-20240928_lab.xml (EX-101.LAB) — 628KB
- txt-20240928_pre.xml (EX-101.PRE) — 434KB
- txt-20240928_htm.xml (XML) — 1513KB
Financial Statements
Financial Statements Consolidated Statements of Operations (Unaudited) 3 Consolidated Statements of Comprehensive Income (Unaudited) 4 Consolidated Balance Sheets (Unaudited) 5 Consolidated Statements of Cash Flows (Unaudited) 6 Notes to the Consolidated Financial Statements (Unaudited) 8 Note 1. Basis of Presentation 8 Note 2. Accounts Receivable and Finance Receivables 8 Note 3. Inventories 10 Note 4. Accounts Payable and Warranty Liability 10 Note 5. Leases 11 Note 6. Derivative Instruments and Fair Value Measurements 11 Note 7. Shareholders' Equity 13 Note 8. Segment Information 16 Note 9 . Revenues 16 Note 10. Retirement Plans 18 Note 11. Special Charges 18 Note 12. Income Taxes 19 Note 13. Commitments and Contingencies 19 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 31 PART II. OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 5. Other Information 31 Item 6. Exhibits 31
Signatures
Signatures 32 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements TEXTRON INC. Consolidated Statements of Operations (Unaudited) Three Months Ended Nine Months Ended (In millions, except per share amounts) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Revenues Manufacturing product revenues $ 2,955 $ 2,791 $ 8,229 $ 8,258 Manufacturing service revenues 460 539 1,821 1,490 Finance revenues 12 13 39 43 Total revenues 3,427 3,343 10,089 9,791 Costs, expenses and other Cost of products sold 2,587 2,355 7,038 6,996 Cost of services sold 348 424 1,450 1,160 Selling and administrative expense 282 303 891 897 Interest expense, net 26 19 71 58 Special charges ( 2 ) — 25 — Non-service components of pension and postretirement income, net ( 66 ) ( 59 ) ( 198 ) ( 177 ) Total costs, expenses and other 3,175 3,042 9,277 8,934 Income from continuing operations before income taxes 252 301 812 857 Income tax expense 29 32 128 134 Income from continuing operations 223 269 684 723 Loss from discontinued operations — — ( 1 ) — Net income $ 223 $ 269 $ 683 $ 723 Basic Earnings per share Continuing operations $ 1.19 $ 1.36 $ 3.60 $ 3.59 Diluted Earnings per share Continuing operations $ 1.18 $ 1.35 $ 3.56 $ 3.56 See Notes to the Consolidated Financial Statements . 3 Table of Contents TEXTRON INC. Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended Nine Months Ended (In millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net income $ 223 $ 269 $ 683 $ 723 Other comprehensive income (loss), net of tax Pension and postretirement benefits adjustments, net of reclassifications — — 2 — Foreign currency translation adjustments 59 ( 51 ) 12 ( 19 ) Deferred gains (losses) on hedge contracts, net of reclassifications 2 ( 3 ) ( 2 ) 3 Other comprehensive income (loss) 61 ( 54 ) 12 ( 16 ) Comprehensive income $ 284 $ 215 $ 695 $ 707 See Notes to the Consolidated Financial Statements . 4 Table of