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Textron Soars in Q4 Performance

Textron Soars in Q4 Performance

BY BRANDON MCLEISH 01/30/2023 AGO 0 COMMENTS

U.S. general aviation giant Textron Aviation has reported numerous profits and revenue and large numbers of turboprop and jet aircraft produced and delivered in the fourth quarter of 2022. Citation deliveries were reported at 52 rather than 46 the year prior. Cessna Caravans and Sky Couriers and Beechcraft King Airs were at 47 compared to 43 in 2021.

 

The Cessna Citation Latitude was the most delivered business jet under Textron’s Citation with over 14 delivered. Photo: Brandon McLeish | AeroXplorer

 

The most recent quarter reported $1.6 billion in revenue which was an increase of $223 million from the year prior. The profit increased by $32 million from the fourth quarter of 2021 to $169 million. At the end of 2022, the backlog was $6.4 billion, up from $4.1 billion in late 2021.

 

 

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Textron CEO Scott Donnelly stated on an earnings call with analysts that the supply chain affected the number of aircraft Textron Aviation delivered. 

 

“We were a few hundred million dollars lighter versus our initial guide, based on the fact that we continue to see supply-chain challenges,” he said. “I think we’ve had a number of suppliers that were challenged [but] are getting better. But you always have a couple out there that are still struggling. We kind of anticipated that in the back half of the year...There’s still going to be supply-chain challenges along the way, but we think we’ve taken that into proper consideration in terms of the 2023 guide.”

Brandon McLeish
Aviation enthusiast for as long as I've been alive. Showcasing photos from Florida and the U.S. Virgin Islands. #TeamAirbus

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