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Textron (NYSE: TXT), Providence, RI, reported total revenues of $3.7 billion for the second quarter of 2018, up 3 percent compared with the second quarter of 2017.
Sales in Textron’s industrial segment increased nearly 10 percent during the quarter, to $1.2 billion, largely related to higher volumes across all of its product lines and a favorable impact from foreign exchange, the company said. Segment profit was down $2 million.
Looking ahead, the company said it expects a one-time gain of approximately $400 million from the sale of its Tools & Test business in the third quarter.