Bell revenues remain flat at $754m in Q3
Third-quarter filings from Textron showed Bell revenues remained flat at $754m compared to $754m in the same period last year on account of lower commercial helicopter volume, largely reflecting supply chain constraints.
Bell delivered 23 commercial helicopter in the third quarter compared with 49 in the same period last year. Deliveries of military helicopters also fell to five from six a year ago.
The helicopter segment’s profits reached $77m during the quarter under review, compared with $74m during the Q3 2022 due to higher margins.
Bell’s backlog at the end of the third quarter was $5.2bn.
Overall, Textron group’s revenue reported earnings per share (EPS) of $1.35 for Q3, up 27% year-over-year from the same period last year. The company’s revenue grew by 8.6% year-over-year to $3.4bn compared with $3.1bn during the Q3 2022.
“In the quarter, we saw higher overall revenues and net operating profit driven by growth at aviation, industrial and systems,” said Scott C Donnelly, chairman and CEO, Textron.
Meanwhile, revenues from its aviation segment jumped by 15% year-over-year to $1.33bn compared with $1.16bn during the same period last year.