Textron: 4Q Earnings Snapshot

PROVIDENCE, R.I. (AP) _ Textron Inc. (TXT) on Thursday reported fourth-quarter net income of $246 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Providence, Rhode Island-based company said it had profit of $1.02. Earnings, adjusted for one-time gains and costs, were $1.15 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The maker of Cessna small planes and Bell helicopters posted revenue of $3.75 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $3.92 billion.

For the year, the company reported profit of $1.22 billion, or $4.83 per share. Revenue was reported as $13.97 billion.

Textron expects full-year earnings to be $3.55 to $3.75 per share, with revenue expected to be $14 billion.

Textron shares have increased roughly 7 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 5 percent. The stock has decreased 17 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXT at https://www.zacks.com/ap/TXT