Bell Textron posts $4.3bn revenue in 2025

Bell Textron has announced full-year 2025 revenue of $4.28bn, up 20% year-over-year from $3.57bn in the same period of last year. Driving growth was an increase in military sales mitigated by a decline in commercial deliveries.

“Bell also had a very strong year with revenue up 11% for the fourth quarter and 20% for the full year,” said Scott Donnelly, Textron’s executive chairman during the manufacturer’s earnings call. The company delivered 169 commercial aircrafts in 2025, three lower than 172 in 2024. The breakdown showed sharp declines in aircraft deliveries during the third quarter when the total aircraft delivered fell to 30 compared with 44 in the previous year.

“On the commercial side, Bell continued to see strong order activity in 2025. For the year, Bell delivered 169 commercial helicopters compared to 172 in 2024,” Donnelly added.

Light helicopters made up for the major chunk of deliveries during the year. The company said it delivered 84 units of 505s, 48 units of 407s and 29 units of 429s, taking the total deliveries of light commercial aircraft deliveries to 161 units – 95% of the total deliveries. The remainder came from eights units of 412 intermediates/medium shipped during the year.

While full-year revenues for the Bell segment were up 20%, the company’s segment profit fell during the year under review to $363m from $370 in 2024. This translated to lower gross profit margin of 8.5% – a decline of 180 basis points from last year.

However, the company said it is continuing to see “strong commercial order flow” as the overall backlog at the end of the year rose to $7.79bn, an increase of $326m from 2024.

Quarterly revenues up 11%YoY

Fourth quarter revenues saw a sharp uptick of 11% year-over-year to $1.3bn with increase driven by higher military revenues of $139m, partially offset by lower commercial revenues of $11m, reflecting the mix of aircraft sold in the period, offset in part by higher pricing.

During the three months under review, the company delivered 78 commercial helicopters, flat with 78 in last year’s fourth quarter.

Segment profit fell $9m to $101m.

Outlook

The company expects to increase revenues from Bell by $120m during the coming year anticipating full-year 2026 revenues will hit $4.4bn.

“We expect revenues of about $4.4bn, reflecting low single-digit growth over 2025. We’re forecasting a margin in the range of about 8% to 9%,” said David Rosenberg, executive vice president and chief financial officer of the company.

Interestingly, the company is significantly expanding its capital expenditure for 2026 to $650m from $383m in the 2025.