|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||46.82 - 46.82|
|52-week range||46.82 - 46.82|
|Beta (5Y monthly)||1.75|
|PE ratio (TTM)||13.38|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Textron Inc. (NYSE: TXT) today reported fourth quarter 2019 net income of $0.87 per share. Adjusted net income, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $1.11 per share for the fourth quarter of 2019, compared to $1.15 per share in the fourth quarter of 2018. Adjusted net income for 2019 excludes $72 million of pre-tax special charges ($0.24 per share, after-tax) recorded in the fourth quarter, primarily related to restructuring activities announced in December 2019.
MONTREAL/SYDNEY/WASHINGTON Jan 21 (Reuters) - Airlines are scrambling to book time in 737 MAX training facilities as far afield as Fiji, Iceland and Panama, operators said, after Boeing Co recommended pilots be trained in one of the few simulators replicating the latest model. "Boeing is recommending that all 737 MAX pilots undergo training in a 737 MAX simulator prior to flying the aircraft in commercial service," the company told Reuters on Tuesday evening, the first confirmation of its new policy.
Does the January share price for Textron Inc. (NYSE:TXT) reflect what it's really worth? Today, we will estimate the...
(Bloomberg) -- Boeing Co.’s surprise about-face in recommending that 737 Max pilots now complete training in simulators before flying the still-grounded airliner shocked many in the aviation world -- except perhaps one of the leading manufacturers of the devices.Canada’s CAE Inc., anticipating a surge in demand for pilot training, in November said it had begun to make 737 Max full-flight simulators without customer orders in hand, an unusual step in the build-to-order industry. The company believed more training would be needed in the wake of 737 Max crisis and wanted to be in a position to quickly supply airlines with the machines that can cost as much as $20 million apiece, CAE spokeswoman Helene Gagnon said.“We’re kind of happy that we made the decision back in November to do that,” she said.CAE shares rose as much as 4.4% on Wednesday after Boeing’s recommendation for simulator training the day before to trade at $37.38 at 11:54 a.m. in Toronto trading. The gains were the company’s largest since Nov. 13.Weighing roughly as much as a school bus and standing two stories or more in height, the latest generation of flight simulators are a cross between super computers and the world’s most sophisticated gaming platforms.Capsules the size of a small apartment contain near-exact replicas of the cockpit -- from the position of each switch to the feel of the flight controls -- and advanced video systems that display terrain near airports with high fidelity. Massive hydraulic lifts hoist, lower and tilt the simulated cockpit to create the illusion of movement through nearly any phase of a flight.Programming the simulator for snowy weather, for example, can show snow plows at work as pilots perform virtual taxis on the ground. Even passengers walking through a realistic-looking terminal can be seen when a plane is parked at a gate.CAE is the leading manufacturer of full-flight simulators, according to the company. As of mid-November, the company had received 48 orders 737 Max simulators and delivered 23 to airlines through December, Gagnon said. Competitors include L3 Harris Technologies Inc., which declined to comment, and Textron Inc.-owned Tru Simulation + Training Inc. A spokeswoman for the Textron unit didn’t return a message seeking comment.Boeing on Tuesday abandoned its long-held stance that pilots of an older 737 model would only need a short computer course to fly the Max, recommending simulator training before taking flight.Mandating simulator sessions will be costly and could delay airlines being able to add the 737 Max to their schedules.The Federal Aviation Administration and other aviation regulators must still determine the scope and rigor of any additional pilot training needed. But the machines could become a hot commodity as Southwest Airlines Co., American Airlines Group Inc. and United Airlines Holdings Inc. put thousands of 737 pilots through their paces after regulators give final approval to training protocols for the still-grounded jet.Estimates vary, but U.S. airlines own only a few 737 Max flight simulators, and Boeing owns several others. Compare that to more than 80 simulators modeled after the 737 NG family that preceded the Max that are held by airlines, according to an FAA-maintained list.Bloomberg has reported that Boeing is exploring converting the simulators designed for the previous generation of 737s to train pilots on the Max.\--With assistance from Susan Decker.To contact the reporters on this story: Ryan Beene in Washington at email@example.com;Alan Levin in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Uber Technologies Inc. is working on a flying car with Hyundai Motor Co., the first automaker to buy into Uber’s dream for a network of air taxis dotting the skies of major cities.The two companies outlined their partnership Monday at the CES technology conference and plan to show off a full-scale model of the vehicle this week on the trade show floor in Las Vegas. Hyundai’s aerial taxi would be able to take off and land vertically, accommodate four passengers and cruise at up to 200 miles per hour. It would be fully electric with a range of 60 miles.The concept is similar to those designed by Boeing Co. and a handful of other companies in collaboration with Uber Elevate, the ride-hailing company’s aerial division. In addition to sci-fi ventures, the group also oversees Uber helicopter rides, which are available in New York City. Uber has said it will conduct the first public demonstration of a flying car this year and allow customers to book aerial rides by 2023.In more terrestrial pursuits, Uber said earlier Monday that it’ll start selling bus tickets through its app in Las Vegas, making it the second city to sign up for a public transit program the company introduced last year. Customers in the city will see public transit as one of the options in the Uber app, alongside car rides. They can then plan their route and purchase tickets for the same price they would pay using traditional methods. Riders will be able to use the tickets when their phone is offline. Uber expects to introduce the feature to additional cities around the world in the coming months.Selling bus tickets is the latest deviation from Uber’s core ride-hailing business, part of a larger strategy to encourage customers to open the app more frequently. The company sees increased usage as a way to drive people to other services, including delivery of meals or groceries, rentals of electric bicycles or scooters and someday, flying car rides.The company’s transit partnership with Las Vegas is nearly identical to an arrangement it made last year with Denver, the first place where Uber offered public transit ticketing. While there are just two cities that support ticket sales through the app, Uber and its main U.S. competitor, Lyft Inc., both display public transit routes for many more places.David Reich, Uber’s head of transit, acknowledged that the feature may deal a blow to Uber’s main business among cost-conscious customers. He said the trade-off is worth it if people learn to use Uber more regularly and trust it to offer comprehensive transportation information. “Sometimes they’ll take something other than Uber, and that’s OK,” Reich said.Las Vegas will get a new transit option as soon as this year, courtesy of Elon Musk. A startup founded by the billionaire, called Boring Co., broke ground last year on a tunnel beneath the Las Vegas Convention Center, where CES is held. Musk plans to pack riders into vehicles designed by Tesla Inc. zooming through the narrow tunnel. Reich said Uber is open to conversations with Musk but that there’s currently no plan in place to sell tickets for Boring Co.’s Loop transit system.For the flying car project, Uber is working with NASA and a half-dozen manufacturers, including Textron Inc.’s Bell and Joby Aviation. The arrangement with Hyundai stands out because the automotive giant could produce air vehicles at “rates unseen” in the aerospace industry, said Eric Allison, the head of Uber Elevate. High volume would, in theory, decrease the price per trip and make an air taxi network financially viable, he said.Uber said it’ll provide partners with airspace support services, connections to ground transportation and a large base of customers. The companies will collaborate on finding places for the vehicles to take off and land, with Uber likely leveraging existing relationships with real estate companies including Hillwood Properties and Signature Flight Support.While Uber has held talks with the Federal Aviation Administration, the effort is likely to face heavy scrutiny from the regulator over logistics for takeoff and landing, noise and safety concerns. Hyundai said its vehicle will require a human pilot initially and eventually operate autonomously. Neither Hyundai nor Uber provided a timeline for dispensing with human pilots.The move represents a pop of innovation for Hyundai, which, like other car manufacturers, has been hit by changing consumer habits that favor access over ownership and a preference for vehicles not powered by gasoline. For Uber, the arrangement expedites ongoing efforts to evolve from a ride-hailing company to a de facto global transportation and logistics provider. It may also offer a welcome distraction from Uber’s stock price, which has slipped about 30% since its disappointing initial public offering last year.(Updates with flying car news starting in the first paragraph.)To contact the author of this story: Lizette Chapman in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Milian at email@example.com, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Textron Aviation adds three company-owned service centers in Asia Pacific (APAC) with Premiair Aviation Maintenance Pty Ltd. acquisition.
(Bloomberg) -- Every year during the second week of January nearly 200,000 people gather in Las Vegas for the tech industry’s most-maligned, yet well-attended event: the consumer electronics show.The conference, officially known as CES, takes over the city, occupying numerous hotels and airplane hanger-sized halls of the Las Vegas Convention Center. Swarms of mostly male attendees, big plastic badges swinging from their necks, wander among the exhibition booths of some 4,500 companies showcasing everything from toilets that can talk to “flying cars” that can’t actually fly yet.For years though, the biggest companies in tech have held back, opting for a more muted presence at CES and announcing their newest products in separate events. Apple Inc., whose slick product “keynotes” have since been copied by almost every other hardware company, started the trend years ago. Now it’s fashionable for tech journalists to brag about avoiding CES altogether. Without big announcements, and amid a broader backlash against the tech giants, some wonder why the event still exists.And yet, people go in droves. Executives from the big names can meet suppliers and negotiate partnerships. For individual attendees, it’s also valuable for keeping up with the ever-changing landscape of bigger screens, longer battery life and internet-connected everything.Even if Apple or Amazon.com Inc. aren’t dropping new world-changing devices, it still matters to a manufacturer from Shenzhen, China, or a Best Buy Co. merchandising manager what the latest trends in consumer tech are, regardless of how incremental they might seem. Technology has infiltrated people’s lives and gadgets from small drones to mobile phones are now accessible to millions of people around the world, not just the rich, early-adopters of 20 years ago.And CES continues to show off the proliferation of devices for every conceivable purpose, sold at every single price point, meaning a legion of product reviewers, who can easily reach huge audiences through YouTube, are needed to help consumers sift through their options. For them, CES is D-Day, the week where they work 20-hour days shooting dozens of videos to roll out during the year.CES has also branched into industries that wouldn’t have been considered “tech” a few years ago. Walking through the exhibition halls, one could be forgiven for mistaking it for a car show. As the auto industry leans in to self-driving technology, voice-connected software and electric cars, companies like Mercedes-Benz AG and Honda Motor Co. have come to CES in force with the hopes of getting some high-tech press. This year, Hyundai Motor Co. claims to have a flying car (or rather small helicopter) it wants to show off. CES’s colonization of the auto world was partly why the Detroit Auto Show -- that industry’s flagship event -- moved to June from January.Other firms trying to re-brand themselves as tech companies are pouring in too. Delta Air Lines Inc. says it will be the first airline with a major announcement at the show as it plans to “showcase the future of travel.”CES has also become one of the top events for the advertising world, much of which now revolves around interpreting moves made by Alphabet Inc.’s Google and Facebook Inc. Executives from the holding companies of the big advertising agencies camp out in the upscale Aria hotel and rarely venture further afield for fear of the infamous hour-long taxi lines. It’s almost as if they’re holding a totally separate conference.The latest trend to hit CES stretches the definition of tech beyond recognition. Last year, Impossible Foods Inc.’s unveiling of the meatless “Impossible Burger 2.0” was the show’s fan favorite, winning awards from numerous tech blogs. Now that rival Beyond Meat Inc. has seen its stock shoot up 200% after a wildly popular initial public offering, Impossible Foods looks to be planning something major this year too.“We’ve got big news coming your way,” the food company said on its Instagram last week. “We’re back.”To contact the reporter on this story: Gerrit De Vynck in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Textron Inc. (NYSE: TXT) will release its fourth quarter 2019 financial results on Wednesday morning, January 29, 2020. Textron’s 2019 fiscal year ends on January 4, 2020.
Understanding Textron Inc.'s (NYSE:TXT) performance as a company requires examining more than earnings from one point...
The coming week’s docket of economic reports and earnings releases comes just following the Trump administration’s announcement of a partial trade deal with China late last week.
"We continue to coordinate closely with the Federal Aviation Administration as our engineer group works to complete the underlying documentation that is required under the FAA's design assurance process," Chief Executive Officer Scott Donnelly said.