Textron Aviation (Textron) reported revenues of US$1.3 billion for the fourth quarter of 2024, down US$242 million from the same period in 2023, driven by a US$282 million reduction in volume and mix due to strike-related production disruptions. Deliveries included 32 jets, down from 50 the previous year and 38 turboprops, down from 44. Segment profit dropped to US$100 million, a decline of US$93 million, reflecting lower volume, manufacturing inefficiencies, and strike-related costs. Textron Aviation's backlog rose by US$219 million to US$7.8 billion.
Bell achieved revenues of US$1.1 billion, up US$58 million year-on-year due to higher military programme revenues, particularly on the FLRAA programme, offset by lower V-22 programme volume. Commercial helicopter deliveries decreased to 78, down from 91 last year. Segment profit was US$110 million, a decline of US$8 million, impacted by programme mix. Bell's backlog stood at US$7.5 billion at quarter-end.
Textron Systems posted revenues of US$311 million, slightly down by US$3 million, while segment profit increased by US$7 million to US$42 million. The backlog at quarter-end was US$2.6 billion.
Industrial revenues fell by US$92 million to US$869 million, primarily due to reduced volume. Segment profit dropped to US$48 million, down US$9 million, affected by volume, mix, and inflation, though partially offset by cost reduction efforts and manufacturing efficiencies.
Textron eAviation reported revenues of US$11 million for the quarter and incurred a segment loss of US$22 million, mainly due to research and development expenses for new products.
Textron is forecasting 2025 revenues of approximately US$14.7 billion, up from US$13.7 billion in 2024. Textron expects full-year 2025 GAAP earnings per share from continuing operations will be in the range of US$5.19 to US$5.39, or US$6.00 to US$6.20 on an adjusted basis, which is reconciled to GAAP in an attachment to this release.
The company is estimating net cash provided by operating activities of the manufacturing group will be between US$1.2 billion and US$1.3 billion and manufacturing cash flow before pension contributions, a non-GAAP measure, will be between US$800 million and US$900 million, with planned pension contributions of about US$50 million.