Key Issues HADES deployment SAOC contract FORGE framework
Textron said today its Textron Systems and Bell businesses reported sales growth during the most recent quarter.
Textron Systems recorded quarterly sales of $399 million, up 16% from the same three-month period last year. The company attributed the growth to "higher volume."
However, the unit's quarterly profit was $33 million, down 11% from the prior year.
Bell reported quarterly sales of $961 million, up 16% from a year earlier as a result of higher commercial sales.
The unit's quarterly profit hit $118 million, up 9% from the prior year.
Meanwhile, Oshkosh said sales in its defense segment during the most recent quarter reached $493 million, up 6% from the same period a year earlier. The company attributed the growth to the "continued ramp up of [Joint Light Tactical Vehicle] sales to the U.S. government."
Oshkosh said quarterly profit in its defense unit was just shy of $31 million, down 57%.
"The decrease in operating income was due to a large cumulative catch-up adjustment on contract margins in the prior-year quarter, adverse product mix, a favorable resolution of contract compliance matters in the prior-year quarter and higher new product development spending," the company said.