Textron shares jump after Q1 beat and Industrial division spin-off

7 articles · Updated · The Motley Fool · Apr 30

The stock rose about 10% after Textron reported first-quarter earnings of $1.45 a share on $3.7bn in sales, beating Wall Street forecasts of $1.32 and $3.5bn.
Revenue increased 12% year on year, while the company said it would separate its golf-cart-making Industrial unit to concentrate on helicopters, business jets and military vehicles.
The remaining business has a $19bn backlog and about $12bn in annual revenue, with Aviation sales up 22% in the quarter, underscoring stronger growth in Textron's core operations.

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