Textron Reports First Quarter 2018 Income from Continuing

Textron Reports First Quarter 2018 Income from Continuing Operations of $0.72 per Share; Signs Agreement to Sell Tools & Test Business for $810 Million

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TEXTRON INC. Revenues by Segment and Reconciliation of Segment Profit to Net Income (Dollars in millions, except per share amounts) (Unaudited)
			Three Months Ended
			March 31, 2018			April 1, 2017
REVENUES
MANUFACTURING:
		Textron Aviation	$	1,010		$	970
		Bell		752			697
		Textron Systems		387			416
		Industrial		1,131			992
				3,280			3,075

FINANCE				16			18
		Total revenues	$	3,296		$	3,093

SEGMENT PROFIT
MANUFACTURING:
		Textron Aviation	$	72		$	36
		Bell		87			83
		Textron Systems		50			20
		Industrial		64			76
				273			215

FINANCE				6			4
		Segment Profit		279			219

Corporate expenses and other, net				(27	)		(27	)
Interest expense, net for Manufacturing group				(34	)		(34	)
Special charges (a)				-			(37	)

Income from continuing operations before income taxes				218			121
Income tax expense				(29	)		(21	)

Income from continuing operations				189			100
	Discontinued operations, net of income taxes			-			1
Net income			$	189		$	101

Earnings per share:
	Income from continuing operations		$	0.72		$	0.37
	Discontinued operations, net of income taxes			-			-
	Net income		$	0.72		$	0.37

		Diluted average shares outstanding		263,672,000			272,830,000

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