Textron Inc. Q1 adjusted earnings Miss Estimates

(RTTNews) - Textron Inc. (TXT) released a profit for first quarter that dropped from last year.

The company's bottom line totaled $50 million, or $0.22 per share. This compares with $179 million, or $0.76 per share, in last year's first quarter.

Excluding items, Textron Inc. reported adjusted earnings of $80 million or $0.35 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 fell 10.6% to $2.78 billion from $3.11 billion last year.

Textron Inc. earnings at a glance:

-Analysts Estimate: $0.47 -Revenue (Q1): $2.78 Bln vs. $3.11 Bln last year.