Textron Inc (TXT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, January 3, 2015

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Textron Inc
Ticker: TXT CIK: 217346

Exhibit 99.1

Corporate Communications

Department

NEWS Release

Investor Contacts:
Douglas Wilburne — 401-457-2288

Robert Bridge — 401-457-2288

FOR IMMEDIATE RELEASE

Media Contact:
David Sylvestre — 401-457-2362

Textron Reports Fourth Quarter 2014 Income from Continuing Operations
of $0.76 per Share, up 26.7%

Revenues up 16.8%

Providence, Rhode Island — January 28, 2015

— Textron Inc. (NYSE: TXT) today reported fourth quarter 2014 income from continuing operations of $0.76 per share, up 26.7 percent from $0.60 per share in the fourth quarter of 2013.

Revenues in the quarter were $4.1 billion, up 16.8 percent from $3.5 billion in the fourth quarter of 2013. Beechcraft, which was acquired in March, 2014, contributed $556 million to the increase in revenues. Textron segment profit in the quarter was $398 million, up $91 million from the fourth quarter of 2013. Fourth quarter manufacturing cash flow before pension contributions was $449 million compared to $774 million during last year’s fourth quarter.

“Overall, we had a strong fourth quarter, with double digit revenue growth at Textron Aviation, Textron Systems and Industrial,” said Textron Chairman and CEO Scott C. Donnelly. “Operationally, we achieved year-over-year margin improvement in the quarter at Textron Aviation, Bell and Industrial and solid cash generation across all of our businesses.”

Textron fourth quarter 2014 results included $13 million in restructuring costs related to the Beechcraft acquisition and Textron Aviation segment profit reflected an $8 million negative impact from fair value step-up adjustments to Beechcraft inventories sold during the quarter.

Full-year income from continuing operations was $2.15 per share, compared to $1.75 in 2013. Full-year 2014 results included $52 million in acquisition and restructuring costs related to the Beechcraft acquisition and Textron Aviation segment profit reflected a $63 million impact from fair value step-up adjustments to Beechcraft inventories sold during the year. Full-year 2014 manufacturing cash flow before pension contributions was $753 million compared to $256 million in 2013.

Outlook

Textron is forecasting 2015 revenues of approximately $14.4 billion and earnings per share from continuing operations in the range of $2.30 to $2.50. The company is estimating cash flow from

The following information was filed by Textron Inc (TXT) on Wednesday, January 28, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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