- Associated Press - Tuesday, July 28, 2015

July 28—Results at Textron Aviation were mixed in the second quarter with jet deliveries flat, turboprop deliveries down but profit significantly higher.

That’s according to parent company Textron Inc.’s second quarter 2015 financial results released Tuesday.

Officials from the Rhode Island-based company said on a conference call with analysts that the Wichita planemaker fought against a stronger U.S. dollar and tougher economies in Latin America and Europe during the quarter ended June 30, but benefited from improved efficiencies on the factory floor and combining Beechcraft and Cessna as well as improved demand in North America.

“It’s a bit mixed around the world,” Textron CEO Scott Donnelly said on the Tuesday morning call. “I would say North America is what is keeping us strong.”

In the second quarter ending June 30, Textron Aviation delivered 36 Cessna Citation jets and 30 Beechcraft King Air turboprops, compared with 36 jets and 34 turboprops in the same quarter a year ago. Fewer and flat deliveries contributed to a 5 percent decrease in revenue: $1.12 billion in second quarter 2015 compared with $1.18 billion in second quarter 2014.

Textron chief financial officer Frank Connor also attributed lower revenue at Textron Aviation to “a change in the mix of jets delivered in the quarter,” he said on the call.

Profit, however, jumped to $88 million, compared with $28 million in the same period in 2014.

Backlog also moved higher by $145 million between the first and second quarters of 2015 to $1.4 billion.

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(c)2015 The Wichita Eagle (Wichita, Kan.)

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Topics: c000213297


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