Textron Shares Fall With Weaker 2Q Results
July 17 2019 - 11:46AM
Dow Jones News
By Dave Sebastian
Shares of Textron Inc. (TXT) fell more than 6% Wednesday after
it reported lower second-quarter profit and revenue.
The aircraft, defense and industrial provider saw a sales
decline in its Textron Aviation segment as volume and mix across
the commercial turboprop and defense product lines were lower in
the second quarter.
The price decline also came after the Textron-owned Cessna's
initial contract with France's Safran SA (SAF.FR) was terminated
after Textron decided to put on hold its Hemisphere aircraft
program, for which Safran Aircraft Engines' Silvercrest had been
selected.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 17, 2019 11:31 ET (15:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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