Textron Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Textron Inc. (TXT) announced a profit for its first quarter that increased from last year.

The company's profit came in at $171 million, or $0.75 per share. This compares with $50 million, or $0.22 per share, in last year's first quarter.

Excluding items, Textron Inc. reported adjusted earnings of $160 million or $0.70 per share for the period.

Analysts had expected the company to earn $0.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.6% to $2.88 billion from $2.78 billion last year.

Textron Inc. earnings at a glance:

-Earnings (Q1): $160 Mln. vs. $80 Mln. last year. -EPS (Q1): $0.70 vs. $0.35 last year. -Analysts Estimate: $0.47 -Revenue (Q1): $2.88 Bln vs. $2.78 Bln last year.

-Guidance: Full year EPS guidance: $2.80 to $3.00