Textron Lifts 2018 EPS View - Quick Facts

(RTTNews) - Textron Inc. (TXT) said that it now expects 2018 earnings per share from continuing operations to be in a range of $3.15 to $3.35, up $0.20 from its previous outlook. Analysts polled by Thomson Reuters expect the company to report earnings of $3.16 per share for fiscal year 2018. Analysts' estimates typically exclude special items.

The company also expects full-year 2018 cash flow from continuing operations of the manufacturing group before pension contributions to be in a range of $750 million to $850 million, up $50 million from its previous expectation.

Textron expects a one-time gain of about $400 million from the Tools & Test divestiture in the third quarter of 2018, which is not reflected in this updated outlook.

"Our updated outlook reflects our strong first-half performance and the continuation of our strategy of growth through new product investments and acquisitions to increase long-term shareholder value," said Textron Chairman and CEO Scott Donnelly.