Textron cuts 2024 EPS outlook to $5.40-$5.60 after Q3 profit falls on IAM strike
Textron reported third-quarter 2024 revenue of $3.43 billion, up from $3.34 billion a year earlier, but adjusted earnings per share fell to $1.40 from $1.49 after a four-week strike at Textron Aviation. The company cut its full-year 2024 adjusted EPS outlook to $5.40-$5.60 from $6.20-$6.40 and lowered its manufacturing cash flow outlook, which matters to shareholders because it reduces expected earnings for the year.
Key points
- GAAP EPS from continuing operations was $1.18 versus $1.35 a year earlier; adjusted EPS was $1.40 versus $1.49
- Textron Aviation revenue and segment profit were hit by the IAM strike, which ended with a new five-year contract ratified on October 20
- 2024 manufacturing cash flow before pension contributions is now expected at $650 million to $750 million, down from $0.9 billion to $1.0 billion
- Textron returned $215 million to shareholders through share repurchases in the third quarter and $890 million year to date
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:12 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 24, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.