The 2020 Mid-Year Economic Update_long

Textron Sales Down 3.3% in 1Q

Industrial sales were up 4.2 percent year-over-year.

Diversified manufacturer Textron Inc. (NYSE: TXT), Providence, RI, reported sales for the first quarter of $3 billion, down 3.3 percent from the prior-year quarter. Profit decreased 32.6 percent to $101 million.

Industrial sales for the quarter were up 4.2 percent year-over-year to $992 million, while aviation sales were down 11 percent to $970 million.

Bell segment sales were down 14.3 percent to $697 million, while Textron systems sales were up 28.4 percent to $416 million.

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