Textron Sales Down 7.3% in 3Q

Industrial sales grew 5.5 percent in the quarter.

Diversified manufacturer Textron Inc. (NYSE: TXT), Providence, RI, reported sales for the third quarter of $3.2 billion, down 7.3 percent compared to the prior-year quarter. Profit increased 6.5 percent to $312 million.

Industrial sales for the quarter were up 5.5 percent year-over-year to $828 million and aviation sales were up 7.3 percent to $1.2 billion.

Bell segment sales were down 36 percent to $756 million, while Textron Systems sales were up 17.3 percent to $420 million.

For the first nine months, sales were $9.5 billion, down 2.9 percent year-over-year. Profit was up 7.5 percent to $877 million.

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