Bell Textron revenue rises 23% YoY in Q3

Bell Textron revenue has climbed in Q3 results.

Bell Textron revenue in the third-quarter (Q3) surged 23% to $929m, driven by increased commercial and  helicopter sales.

The military volume increase was largely attributable to the FLRAA (Future Long Range Assault) programme, while the commercial volume increase reflected higher deliveries.

Bell delivered 44 commercial helicopters in the quarter, compared to 23 in the previous year. This increase significantly contributed to the overall revenue growth.

Segment profit rose by $21m to $98m due to improved performance and favourable pricing.

Bell Textron’s backlog at the end of the third quarter reached $6.5bn, a substantial $2.3bn increase from the previous quarter. This growth was primarily driven by the approval of Milestone B for FLRAA, which marked a significant milestone for the program.

Despite these positive developments, Textron lowered its 2024 guidance as company’s top line is expected to remain under pressure owing to ongoing strikes in its other segments.

The adjusted full-year EPS range was reduced from $6.20-6.40 to $5.40-5.60, and the manufacturing cashflow forecast was lowered from $0.9-1.0bn to $0.65-0.75bn.

Overall, Textron’s earnings per share for the third quarter were $1.18, down from $1.35 in the same period last year.