Textron

Textron is a US aerospace, defense and industrial company based in Providence, Rhode Island. Textron Aviation makes Cessna and Beechcraft business jets, turboprops and piston aircraft and sells parts and services. Bell makes military and commercial helicopters and tiltrotor aircraft, including the H-1 helicopters and the MV-75 Cheyenne, the US Army's new long-range assault aircraft. Textron Systems makes armored land vehicles, uncrewed systems and training services.

The Industrial segment includes Kautex, which makes fuel systems for cars, and Textron Specialized Vehicles, which makes E-Z-GO golf carts and other vehicles. A small Finance segment lends to aircraft buyers. Revenues were $3.83 billion in Q2 2026. In April 2026, Textron said that it intends to separate its Industrial segment.

The market prices Textron for slow profit growth and for the risk on its large new military program. In Q3 2026, Bell revenues fell 9% because of lower MV-75 volume, and Textron Aviation's segment profit rose only 4% on 14% higher revenues because of manufacturing inefficiencies. The MV-75 Cheyenne is Bell's most important future program, and its funding depends on US budget decisions each year. In October 2026, Textron said that Congress approved the Army's Above Threshold Reprogramming request for the MV-75, so the extra 2026 funding that its outlook assumed is now in place.

Investors also value Textron as a conglomerate with a low-margin Industrial segment. Results are ahead of plan: in Q3 2026, adjusted EPS rose to $1.76 from $1.55, and Textron raised its 2026 guidance to adjusted EPS of $6.55 to $6.65 and manufacturing cash flow before pension contributions of $800 million to $900 million. For the gap to close, three things must be true. The MV-75 must get its funding in later US budgets and move through development on schedule.

Textron Aviation must turn its $8.0 billion backlog into more deliveries with better margins. Textron must complete the separation of the Industrial segment, by a sale or a spin-off, within 12 to 18 months of April 2026, as planned. The 2027 guidance in January 2027 is the next and main test. If these checks pass, the gap can close over the next four to six quarters.

The main reason it may not close is a delay or a cut in MV-75 funding.

1. Oct 29, 2026Passed

   Q3 2026 earnings: MV-75 funding and deliveriesResults on track for the $6.40 to $6.60 adjusted EPS guidance with the extra MV-75 funding received pass; a cut to the guidance or a funding delay fails.Outcome: The Army received Congressional approval for the extra MV-75 funding, and Textron raised its 2026 adjusted EPS guidance to $6.55 to $6.65.
2. Jan 29, 2027 · est.Pending

   2026 results, the 2027 guidance and the Industrial separationA 2027 outlook with higher earnings and a clear path to sell or spin off the Industrial segment passes; lower guidance or a stalled separation fails.

Every passed and failed checkpoint across all picks

• November 4, 2026Textron sold $350 million of 5.500% notes due March 15, 2032, under its shelf registration. The 8-K does not say how Textron will use the money.
• October 29, 2026Textron reported Q3 2026 results. Revenues rose 4% to $3.8 billion. GAAP EPS was $1.56 and adjusted EPS was $1.76, up from $1.55. Textron Aviation delivered 51 jets and 32 turboprops, and its revenues rose 14%. Bell revenues fell 9% to $933 million because of lower MV-75 volume. Textron said that the Army received Congressional approval for its Above Threshold Reprogramming request for the MV-75. Textron raised its 2026 guidance for adjusted EPS to $6.55 to $6.65, from $6.40 to $6.60, and for manufacturing cash flow before pension contributions to $800 million to $900 million. It bought back $239 million of shares.
• September 29, 2026Textron said that it will report Q3 2026 results on October 29, 2026.

Last earnings

October 29, 2026 (8-K on sec.gov)

Next earnings

Expected about January 29, 2027. The company has not confirmed the date.

• 8-KOther company newsFiled November 4, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Oct 3, 2026Filed October 29, 2026 · txt-20261003
• 8-KEarnings releaseFiled October 29, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Jul 4, 2026Filed July 28, 2026 · txt-20260704
• 8-KEarnings releaseFiled July 28, 2026 · Press release and exhibits
• 8-KShareholder vote resultsFiled May 1, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Apr 4, 2026Filed April 30, 2026 · txt-20260404
• 8-KEarnings release and Investor disclosureFiled April 30, 2026 · Press release and exhibits
• 10-KAnnual report for the period ended Jan 3, 2026Filed February 11, 2026 · txt-20260103
• 8-KChange of directors or officersFiled February 2, 2026 · txt-20260130

Every filing on SEC EDGAR (CIK 217346)

• The MV-75 Cheyenne depends on US Army funding each year. Congress approved the extra 2026 funding in Q3 2026, but a delay or a cut in a later budget can lower Bell's revenue, earnings and cash flow. Bell revenues fell 9% in Q3 2026 because of lower MV-75 volume.
• Demand for business jets depends on the economy and on corporate profits. Lower orders, or more manufacturing inefficiencies, can lower Textron Aviation's deliveries and margins.
• The separation of the Industrial segment may take longer than planned, or bring a lower price than investors expect.
• Tariffs and supply chain problems can raise costs for aircraft and industrial products.

At October 3, 2026, Textron's manufacturing group had cash and equivalents of $1.61 billion and debt of $3.47 billion, of which $355 million was due within 12 months. Net debt to capital was 19% and debt to capital was 30%, with shareholders' equity of $8.12 billion. Read more

Yield at the current rate

0.1% (current annual rate, at today’s price)

Dividend yield

0.1% (last 12 months, at today’s price of $85.94)

Paid per share

$0.08 in the last 12 months (4 payments)

Current annual rate

$0.08 ($0.02 × 4 a year)

Payout ratio

2% of the last fiscal year’s earnings (the year that ended January 3, 2026)

Latest ex-dividend date

September 11, 2026, $0.02 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 0.0% a year. From 2015 to 2025, the dividend grew by about 0.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.