Textron Inc. (TXT) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, Emily, and good morning, everyone. Before we begin, I'd like to mention that we'll be discussing future estimates and expectations during our call today. These forward-looking statements are subject to various risk factors, which are detailed in our SEC filings and also in today's press release. On the call today, we have Scott Donnelly, Techfront's chairman and CEO, and David Rosenberg, our chief financial officer. Our earnings call presentation can be found in the investor relations section of our website. Revenues in the quarter were $3.3 billion, up $171 million from last year's first quarter. Segment profit in the quarter was $280 million, down $10 million from the first quarter of 2024. During this year's first quarter, adjusted income from continuing operations was $1.28 per share compared to $1.20 per share in last year's first quarter. Manufacturing cash flow before pension contributions reflected a use of cash of $158 million compared to a use of cash of $81 million in last year's first quarter. With that, I'll turn the call over to Scott. Thanks, Scott, and good morning, everyone. Overall, revenues were up 5% led by Bell, partially offset by lower revenues in industrial. During the quarter, aviation delivered 31 jets and 30 commercial turboprops compared to 36 jets and 20 commercial turboprops in last year's first quarter. Aviation operations continue to improve as the factory progressed toward pre-strike performance levels while ramping production. Textron Aviation's fleet utilization remains strong in the quarter, contributing to aftermarket revenue growth of 6% as compared to last year's first quarter. Aviation announced the sale of seven King Air 260 training aircraft that will be used to train pilots for the Royal Canadian Air Force. In Feb...