Textron's First Quarter Delivers More Questions Than Answers
Textron (NYSE: TXT) misfired in the first quarter, reporting adjusted earnings of $0.35 per share on revenue of $2.78 billion. That missed analyst expectations for $0.40 per share in earnings on revenue of $2.97 billion.
Textron is hardly the only industrial company that saw its first-quarter results pressured due to the COVID-19 pandemic, and it's important not to dwell too much on this one quarterly snapshot. But for Textron investors, disappointing earnings reports have become all too common of late.
The results and post-earnings commentary provide both glimmers of hope as well as fresh reasons for investor concerns. Here is a look at the good and the bad surrounding Textron following its first-quarter report.
Source Fool.com
