Textron to pause powersports production, raises 2023 restructuring charges to $190M-$205M
Textron said it is reviewing strategic alternatives for its Powersports product line within Textron Specialized Vehicles and has begun pausing production amid soft consumer demand. The company raised its total pretax special charges under its 2023 restructuring plan and expects a $30 million to $40 million inventory write-down, which it estimates will reduce 2024 Adjusted earnings per share by about $0.12 to $0.16.
Key points
- Total pretax special charges under the 2023 restructuring plan now expected at $190 million to $205 million, up from $165 million to $170 million, with the $25 million to $35 million increase tied to contract termination costs.
- Inventory valuation charge of $30 million to $40 million expected, reducing 2024 Adjusted EPS by about $0.12 to $0.16.
- Powersports production to be paused indefinitely in the first half of 2025, after limited runs to fill customer commitments.
- Restructuring charges to be recorded in the fourth quarter of 2024; additional cash outlays of $25 million to $35 million expected mainly in the first half of 2025.
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing 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 December 18, 2024.
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