Cessna, Bell Lift Textron’s Financials
Textron’s second-quarter revenues of $3.2 billion were up 26 percent from last year, driven primarily by double-digit gains at Bell and Cessna. Bell segment revenues increased $199 million and profit was up $12 million due to higher V-22 Osprey revenue. At Cessna, revenues grew by $410 million, to $910 million, due to higher Citation, single-engine, Caravan and pre-owned aircraft deliveries, as well as the consolidation of CitationShares. The division’s quarterly profit increased $77 million over the same period last year. Cessna plans to deliver 240 Citations this year and will increase production next year to 270 to 290 jets.