Textron Inc today reported first quarter 2026 net income of $1.25 per share, compared to $1.13 in the first quarter of 2025. Adjusted net income, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $1.45 per share for the first quarter of 2026, compared to $1.28 per share in the first quarter of 2025.
“Textron delivered double-digit revenue and EPS growth in the quarter,” said Textron CEO Lisa M. Atherton. “Strong growth in Aviation deliveries, continued scaling of the MV-75 Cheyenne at Bell, excellent execution at Systems, and good performance at Industrial all contributed to a successful quarter.”
Cash Flow
Net cash used by operating activities of the manufacturing group for the first quarter was $107 million, compared to a cash use of $114 million in last year’s first quarter. Manufacturing cash flow before pension contributions, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, reflected a use of cash of $228 million for the first quarter, compared to a cash use of $158 million in last year’s first quarter.
In the quarter, Textron returned $168 million to shareholders through share repurchases.
Intent to Separate its Industrial Segment
In a separate press release issued today, Textron announced its intent to separate its Industrial segment from the Company’s core aerospace and defense businesses to enhance the strategic and operational focus of each platform and drive long-term value for stakeholders. Textron intends to explore multiple paths to effect the planned separation of its Industrial segment, including but not limited to a sale of the Industrial businesses or a tax-free separation into a standalone, publicly traded company. To access the press release, please visit the news section of our website.
First Quarter Segment Results
Textron Aviation
Textron Aviation’s revenues were $1.5 billion, up 22%, or $269 million from last year’s first quarter, reflecting higher aircraft revenues of $221 million and higher aftermarket parts and services revenues of $48 million. The increase in aircraft revenues was primarily due to higher volume and mix, largely reflecting higher Citation jet and commercial turboprop volume.
Textron Aviation delivered 37 jets in the quarter, up from 31 in the first quarter of 2025, and 35 commercial turboprops, up from 30 in last year’s first quarter.
Segment profit was $154 million in the first quarter, up $32 million, or 26% from a year ago, primarily due to higher aircraft volume and mix, partially offset by higher selling and administrative expense and warranty costs.
Textron Aviation backlog at the end of the first quarter was $8.0 billion.
Bell
Bell revenues were $1.1 billion, up 9%, or $87 million from the first quarter of 2025. The revenue increase in the quarter was driven by higher military revenues of $161 million, largely due to higher volume on the MV-75 Cheyenne program, partially offset by lower volume on V-22 production and on military sustainment programs. Commercial helicopters, parts and services revenues decreased $74 million compared to the first quarter of 2025, primarily due to lower volume and mix.
Bell delivered 20 commercial helicopters in the quarter, down from 29 in last year’s first quarter.
Segment profit of $72 million was down $18 million from last year’s first quarter, largely reflecting an unfavorable impact from the mix of military programs and lower commercial volume and mix.
Bell backlog at the end of the first quarter was $7.6 billion.
Textron Systems
Textron Systems revenues were $338 million, up 13%, or $39 million from the first quarter of 2025, largely due to higher volume on the Ship-to-Shore Connector program and military training and support services provided by Airborne Tactical Advantage Company (ATAC), partially offset by lower net volume on other programs.
Segment profit of $42 million was up $4 million, compared with the first quarter of 2025, largely due to higher net volume.
Textron Systems backlog at the end of the first quarter was $3.6 billion.
Industrial
Industrial revenues were $786 million, down 1%, or $6 million from the first quarter of 2025.
Textron Specialized Vehicles’ revenues decreased $42 million, largely reflecting an impact of $55 million from the disposition of the Powersports business in April 2025. Kautex revenues increased $36 million, primarily due to a favorable impact from foreign exchange rate fluctuations and higher volume and mix.
Segment profit of $40 million was up $10 million from the first quarter of 2025, primarily due to manufacturing efficiencies, which included the benefit of cost reductions resulting from prior year restructuring activities.
Finance
Finance segment revenues were $16 million, and profit was $12 million in the first quarter of 2026, as compared to segment revenues of $16 million and profit of $10 million in the first quarter of 2025.
Conference Call Information
Textron will host its conference call today, April 30, 2026 at 8:00 a.m. (Eastern) to discuss its first quarter results and its intent to separate its Industrial segment from the Company’s core aerospace and defense businesses. The call will be available via webcast at www.textron.com or by direct dial at (888) 596-4144 in the U.S. or (646) 968-2525 outside of the U.S.; Access Code: 6969175.
In addition, the call will be recorded and available for playback beginning at 11:00 a.m. (Eastern) on Thursday, April 30, 2026 by dialing (800) 770-2030; Access Code: 6969175.
A package containing key data that will be covered on today’s call can be found in the Investor Relations section of the company’s website at www.textron.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, and Textron Systems. For more information visit: www.textron.com.
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