Textron Inc. (TXT) shares plummeted over 5% in pre-market trading on Wednesday, following the company's mixed fourth-quarter 2024 results and disappointing profit outlook for 2025.
The aerospace and defense conglomerate reported fourth-quarter adjusted earnings of $1.34 per share, in line with analysts' expectations. However, revenue of $3.61 billion fell short of the $3.81 billion consensus, weighed down by disruptions from a labor strike at its Textron Aviation unit and persistent demand weakness in its Industrial segment.
More concerning for investors was Textron's 2025 earnings guidance, which fell below Wall Street projections. The company forecast adjusted earnings per share between $6.00 and $6.20, compared to analysts' estimates of $6.40. Textron cited the lingering impact of the strike and soft demand in certain Industrial businesses as headwinds for the coming year.
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