Shares of Textron, Inc. (TXT) gained 2.9% after the company reported strong Q3 results, which surpassed expectations on both earnings and revenue fronts. The American industrial conglomerate engages in a global network of aircraft, defense, industrial and finance businesses. Quarterly adjusted earnings per share (EPS) grew 60.4% year-over-year to $0.85 and exceeded the Street’s expectations of $0.68. Third-quarter revenue of $2.99 billion was up 9.3% year-over-year and surpassed the consensus estimate of $2.7 billion. The growth can be attributed to higher revenues from the company's manufacturing segment. (See Textron stock chart on TipRanks) Textron Aviation revenue increased $386 million on higher citation jet volume, aftermarket volume and commercial turboprop volume.
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Textron (NYSE:TXT)
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