Textron's Earnings Were a Nonevent. Scorpion Jet Is the Real Story

Investors don't seem to have been too terribly impressed with what Textron (NYSE: TXT) had to tell them, at least insofar as second-quarter 2017 earnings went.

The company earned $0.57 per share, $0.02 better than analysts had expected. Sales likewise exceeded expectations -- barely -- coming in at $3.6 billion where Wall Street had been expecting $3.59 billion. Gains in sales at Textron Bell (up $21 million) were entirely offset by declines in sales at Textron Aviation (down $25 million). Sales declined at Textron Systems as well (down $10 million), while a $109 million increase in sales at Textron's industrial division were, by management's own admission, "largely due to the impact of the Arctic Cat acquisition."

Investors reacted to the ho-hum quarter much as you might have expected them to: Textron stock rose all of $0.02 on earnings day (then declined 1.8% the day after). But better news may be coming.

Source: Fool.com