Textron (TXT +5.5%) shares have turned around after seemingly headed for losses after the aircraft manufacturer reported in-line Q4 earnings and predicted FY 2014 earnings would come in below forecasts.
TXT sees 2014 EPS of $2.00-$2.20 vs. $2.20 consensus, and sees revenue of ~$13.2B vs. $13.23B consensus; cash flow from continuing operations of the manufacturing group before pension contributions is estimated at $600M-$700M.
While noting the lackluster guidance, RBC analyst Robert Stallard notes that the state of the market for Cessna also would be in focus, and that prediction proved accurate.
Management made positive comments about the current state of the business-jet market, and any pick up there could have a huge impact, Stallard says; “if this market recovers, there is a lot of potential (thinking 2015 and beyond).”
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