Textron has reported a USD500 million year-on-year drop in revenues for the second quarter of 2019, although it has improved its pre-tax profit margin and delivered higher earnings per share (EPS).
Commenting on 17 July, Chairman and CEO Scott Donnelly hailed a “solid margin performance across our businesses”, adding that “we remain on track for growth in the second half of the year”.
However, group revenues across the five business segments (Textron Aviation, Bell, Textron Systems, Industrial, and Finance) totalled USD3.2 billion in the three months to 30 June, compared with USD3.7 billion in second-quarter 2018.
The overall pre-tax operating margin increased from 9.3% in the second quarter of 2018 to 10.5% in 2019, and Textron announced higher EPS of USD0.93, compared with USD0.87 in second-quarter 2018.
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