Textron Systems, Bell report lower sales

By Marjorie Censer / April 17, 2019 at 9:24 AM

Textron Systems and Bell, both units of Textron, today said sales in their most recent quarter dipped from the same three-month period a year earlier.

Textron Systems reported quarterly sales of $307 million, down nearly 21% from the same period a year earlier. The company attributed the decline to lower sales of its Tactical Armoured Patrol Vehicle and reduced unmanned systems sales.

The unit's quarterly profit reached $28 million, down 44% from a year earlier.

Meanwhile, the Bell business reported quarterly revenue of $739 million, down 2% from last year, “primarily in lower commercial volume,” according to the company.

The unit's quarterly profit hit $104 million, up about 20% from a year earlier.

In a call with investors today, Scott Donnelly, Textron's chief executive, said the company is preparing a competitive offering for the Army's Future Attack Reconnaissance Aircraft program.

He said the company will rely on technology it invested in for its 525 helicopter. Donnelly acknowledged the company has not talked much publicly about its proposal, but said “it's not going to be a secret for long.”

“We think we have some technology that's been validated that can meet that requirement with a much more cost effective, much more reliable conventional technology,” he said.