Textron Guides FY21 Adj. EPS Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, Textron Inc. (TXT) initiated earnings and revenue forecast for the full-year 2021.

For fiscal 2019, the company now projects earnings from continuing operations in a range of $2.64 to $2.88 per share and adjusted earnings from continuing operations in a range of $2.70 to $2.90 per share on revenues of approximately $12.5 billion, up from $11.7 billion in 2020. On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.68 per share on revenues of $12.57 billion for the year. Analysts' estimates typically exclude special items.

The company also expects manufacturing cash flow, before pension contributions, to range between $600 million to $700 million, with planned pension contributions of about $50 million.

"Our outlook reflects continued improvement in our end-markets and our ongoing investments in new products and programs to drive earnings growth and margin expansion," said Textron Chairman and CEO Scott Donnelly.