Textron posts quarterly income conquer on potent enterprise jet need

Jan 25 (Reuters) – Cessna jet maker Textron Inc (TXT.N) documented a greater-than-envisioned income on Wednesday, as a pandemic-pushed demand for personal jets reveals minimal indicators of cooling.

The spread of the COVID-19 pandemic drove up need for private plane travel from the extremely abundant, boosting outcomes at organization jet makers in North America.

Textron described a fourth-quarter income of $3.64 billion, in contrast with analysts’ average estimate of $3.61 billion, as for each Refinitiv knowledge.

Income at Textron Aviation, the company’s largest device, came in at $1.6 billion in the quarter finished Dec. 31, up $223 million, on better prices and sales volume.

The business enterprise jet maker also forecast an altered income per share of $5 to $5.20 for 2023. Analysts be expecting a revenue of $4.51 apiece. It was not promptly clear if the figures were being equivalent.

Textron forecast a 2023 income of about $14. billion, up from $12.9 billion in the 12 months-ago period.

Reporting by Raechel Thankam Task Editing by Sherry Jacob-Phillips

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