Textron Sales Up 2.6% in 2Q - Modern Distribution Management

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Textron Sales Up 2.6% in 2Q

Industrial sales grew 10.9 percent in the quarter.

Diversified manufacturer Textron Inc. (NYSE: TXT), Providence, RI, reported sales for the second quarter of $3.6 billion, up 2.6 percent compared to the prior-year quarter. Profit decreased 13.6 percent to $153 million.

Industrial sales for the quarter were up 10.9 percent year-over-year to $1.1 billion, largely due to the impact of the Arctic Cat acquisition.

Aviation sales were down 2.1 percent to $1.2 billion, primarily due to lower military and commercial turboprop volume, partially offset by higher jet volume.

Bell segment sales were up 2.6 percent to $825 million.

Textron Systems sales were down 2.1 percent to $477 million, primarily due to lower volumes in the weapons and sensors and unmanned systems product lines partially offset by higher volumes at marine and land systems.

For the first half, sales were $6.7 billion, down 0.2 percent year-over-year. Profit was down 22.3 percent to $254 million.

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