The 2020 Mid-Year Economic Update_long

Textron Sales Up 8.1% in 2Q

Industrial sales grew 8.3 percent in the quarter.

Diversified manufacturer Textron Inc. (NYSE: TXT), Providence, RI, reported sales for the second quarter of $3.5 billion, up 8.1 percent compared to the prior-year quarter. Profit increased 6 percent to $17 million.

Industrial sales for the quarter were up 8.3 percent year-over-year to $1 billion, due to higher volumes and the impact of acquisitions.

Aviation sales were up 6.4 percent to $1.2 billion, primarily due to volume and mix.

Bell segment sales were down 5.4 percent to $804 million, primarily the result of lower aircraft deliveries.

Textron Systems sales were up 51.2 percent to $487 million, primarily due to higher volumes in weapons and sensors and unmanned systems product lines.

For the first half, sales were $6.7 billion, up 6.2 percent year-over-year. Profit was up 10.8 percent to $327 million.

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