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Textron Inc   (TXT)
Other Ticker:  
 
    Sector  Capital Goods    Industry Aerospace & Defense
   Industry Aerospace & Defense
   Sector  Capital Goods
 


Textron Inc Segments

 
Bell
   23.77 % of total Revenue
Industrial
   26.04 % of total Revenue
Cessna
   36.45 % of total Revenue
Finance
   0.53 % of total Revenue
Defense & Intelligence
   13.21 % of total Revenue
 

Business Segments (Sep. 30, 2015)
Revenues
(in millions $)
III. Quarter
%
(of total Revenues)
(Sep. 30, 2015)
Income
(in millions $)
III. Quarter
%
(Profit Margin)
Bell
756.00 23.77 % 99.00 13.1 %
Industrial
828.00 26.04 % 61.00 7.37 %
Cessna
1,159.00 36.45 % 0.00 -
Finance
17.00 0.53 % 6.00 35.29 %
Defense & Intelligence
420.00 13.21 % 39.00 9.29 %
Total
3,180.00 100 % 205.00 6.45 %

• View Income Statement • View Competition by Segment • View Annual Report

Growth rates by Segment (Sep. 30, 2015)
Y/Y Revenue
%
III. Quarter
Q/Q Revenue
%
(Sep. 30, 2015)
Y/Y Income
%
III. Quarter
Q/Q Income
%
Bell
-36.04 % -11.06 % -32.19 % -1.98 %
Industrial
5.48 % -10.68 % 15.09 % -29.07 %
Cessna
7.31 % 3.11 % - -
Finance
-32 % -29.17 % 20 % -40 %
Defense & Intelligence
17.32 % 30.43 % 44.44 % 85.71 %
Total
-7.29 % -2.06 % -11.26 % -5.96 %

• View Growth rates • View Competitors Segment Growth • View Market Share

To get more information on Textron Inc 's Bell, Industrial, Cessna, Finance, Defense & Intelligence, Total segment. Select each division with the arrow.

  Textron Inc 's

Business Segments Description



Bell Helicopter

Bell Helicopter is one of the largest suppliers of helicopters, tiltrotors, and helicopter-related spare parts and services in the world. Bell Helicopter manufactures for both military and commercial applications. A commercial tiltrotor model is also in development.

Bell Helicopter supplies advanced military helicopters and support (including spare parts, support equipment, technical data, trainers, pilot and maintenance training, component repairs, aircraft modifications, contractor maintenance and field and product support engineering services) to the U.S. Government and to military customers outside the U.S. Bell Helicopter is one of the leading suppliers of helicopters to the U.S. Government and, in association with The Boeing Company, the only supplier of military tiltrotors. Bell Helicopter makes sales to non-U.S. military customers only with the concurrence of the U.S. State Department.

Bell Helicopter is teamed with The Boeing Company to develop, produce and provide life cycle support for the V-22 Osprey tiltrotor aircraft for the U.S. Department of Defense. Tiltrotor aircraft are designed to provide the benefits of both helicopters and fixed-wing aircraft. The Department of Defense continues to support the V-22 program via Acquisition Decision Memorandums that recorded the results of Defense Acquisition Board meetings in May and July 2003. Through Production Lot 8, the U.S. Government has procured seventy-six V-22 aircraft. An expanded V-22 flight test program is currently under way.

Bell Helicopter is engaged in the engineering and manufacturing development stage of the H-1 upgrade program for the U.S. Marine Corps. This program will produce an advanced attack and a utility model helicopter, the AH-1Z and UH-1Y, which are uniquely designed to have 84% parts commonality, which meets the U.S.  Government intent to reduce operational life cycle costs. In December 2003, Bell Helicopter received a contract from the U.S. Government to furnish six UH-1Y aircraft and three AH-1Z aircraft for Low Rate Initial Production (LRIP)  Lot 1.

Bell Helicopter is also a leading supplier of commercially certified helicopters to corporate, offshore petroleum exploration and development, utility, charter, police, fire, rescue and emergency medical helicopter operators.

Bell Helicopter is a member of Bell/ Agusta Aerospace Company, L.L.C., a joint venture with Agusta, a leading helicopter manufacturer based in Italy, for the design, manufacture, sale and customer support of a commercial tiltrotor, the BA609, and a new medium twin-engine helicopter, the AB139. BA609 development is progressing. Ground run testing of the BA609 commenced in December 2002 and the aircraft achieved its maiden flight on March 7, 2003, in helicopter mode. The aircraft is now undergoing manufacturing modification to add equipment and upgraded software for additional flight testing to be conducted beginning in the third quarter of 2004.

Bell Helicopter supports helicopter operators by providing off-the-shelf spare parts from strategically located distribution centers throughout the world and real time technical services through an extensive network of technical personnel. Bell Helicopter also engineers, manufactures and distributes spare parts for helicopters made by other original equipment manufacturers.

In the light and medium helicopter market segments, Bell Helicopter has two major U.S. competitors and one major European competitor. Bell Helicopter markets its products around the world through its own sales force and through independent representatives. Price, financing terms, aircraft performance, reliability and product support are significant factors in the sale of helicopters. Bell Helicopter has developed the world’s largest distribution system to sell and support helicopters, serving customers in over 100 countries.

Defense & Intelligence

Defense & Intelligence is a primary supplier to the defense and aerospace markets. Defense & Intelligence manufactures “smart” weapons, airborne and ground-based surveillance systems, aircraft landing systems, hovercraft, search and rescue vessels, armored vehicles and turrets, reciprocating piston aircraft engines, and aircraft and missile control actuators, valves and related components. Defense & Intelligence is involved in supplying the U.S. Air Force with some of its premier smart weapons as prime contractor for the Sensor Fuzed Weapon (SFW) and is a subcontractor to The Boeing Company for tail actuation systems on the Joint Direct Attack Munition (JDAM). Defense & Intelligence also holds a primary systems integrator role on the U.S. Army’s Future Combat System for unattended ground systems and sensors. While Textron Systems sells most of its products directly to U.S. customers, it also sells an increasing number of products in over 35 other countries through a growing, global network of sales representatives and distributors.

Actuation products for the aerospace, defense and industrial markets are sold under trade names of HR Textron and APCO. Specialty marine, land vehicle, and turret products are sold under the trade names of Textron Marine & Land Systems and Cadillac Gage. Weapons, surveillance, and landing systems are sold under the Textron Systems name. Reciprocating piston aircraft engines are sold under the Lycoming name directly to general aviation airframe manufacturers and in the aftermarket through domestic and international distributors. Lycoming also is the exclusive supplier of engines for Cessna’s product line of new single engine aircraft.

Cessna Segment

Based on unit sales, Cessna Aircraft Company is the world’s largest manufacturer of general aviation aircraft. Cessna currently has four major product lines: Citation business jets, single engine turboprop Caravans, Cessna single engine piston aircraft and after-market services.

The family of business jets currently produced by Cessna includes the Citation CJ1, Citation CJ2, Citation Bravo, Citation Encore, Citation Excel, and Citation  X. The Citation X is the world’s fastest business jet with a maximum operating speed of Mach .92. By the end of 2003, Cessna had delivered its 4,064th business jet. Under development are the mid-size Citation Sovereign, the light-size Citation CJ3 and entry-level Citation Mustang. First customer deliveries are scheduled in early 2004 for the Citation Sovereign and late 2004 for the Citation CJ3. First customer deliveries of the Citation Mustang are anticipated in late 2006. In the second quarter of 2004, Cessna will begin deliveries of the XLS, which is a faster, longer-range, modernized version of the Excel, and the 2004 Citation  X, which has an improved interior design.

The Cessna Caravan is the world’s best selling utility turboprop. Caravans are offered in four models: the Grand Caravan, the Super Cargomaster, the Caravan Floatplane and the Caravan 675. Caravans are used in the U.S. primarily to carry overnight express package shipments. International uses of Caravans include humanitarian flights, tourism and freight.

Cessna now has six models in its single engine piston product line: the four-place 172 Skyhawk, 172 Skyhawk SP, 182 Skylane and Turbo 182 Skylane, and the six-place 206 Stationair and T206 Turbo Stationair.

Reliability and product support are significant factors in the sale of these aircraft. The Citation family of aircraft is supported by 11 Citation Service Centers owned and operated by Cessna, along with authorized independent service stations and centers in more than 16 countries throughout the world. The Cessna-owned Service Centers provide customers 24 hour a day service and maintenance. Cessna Caravan and single engine piston customers receive product support through independently owned service stations and 24 hour a day spare parts support through Cessna.

Cessna markets its products worldwide primarily through its own sales force, as well as through a network of authorized independent sales representatives, depending upon the product line. Cessna has several competitors in the business jet market. Cessna’s aircraft compete with other aircraft that vary in size, speed, range, capacity, handling characteristics and price.

Cessna engages in the business jet fractional ownership market through a joint venture with TAG Aviation S.A., a worldwide aircraft management and charter enterprise. This joint venture, called CitationShares, began in late 2000. Initially, it offered shares of Citation aircraft for operation east of the Rocky Mountains. It has now expanded to the entire contiguous United States.

Industrial Segment

The Industrial Segment is comprised of our E-Z-GO, Jacobsen, Kautex, and Tools & Components businesses. On August 1, 2003, Textron sold the OmniQuip telehandler business to JLG Industries, Inc., completing the divesture of all product lines of the OmniQuip business acquired by Textron in 1999.

E-Z-GO

E-Z-GO designs, manufactures and sells golf cars and off-road utility vehicles powered by electric and internal combustion engines under the E-Z-Go name, as well as multipurpose utility vehicles under the E-Z-Go and Cushman brand names.

E-Z-GO’s commercial customers consist primarily of golf courses, resort communities and municipalities, as well as commercial and industrial users such as airports and factories. E-Z-GO’s off-road utility vehicles and golf cars are also sold into the consumer market. Sales are made through a network of distributors and directly to end-users. Many of E-Z-GO’s sales are financed through Textron Financial Corporation.

E-Z-GO has two major competitors for golf cars, and a number of smaller competitors for utility vehicles. Competition is based primarily on price, quality, product support, performance, reliability and reputation.

Jacobsen

Jacobsen designs, manufactures and sells professional turf maintenance equipment, lawn care machinery and specialized industrial vehicles. Major brand names include Ransomes, Jacobsen, Cushman, Ryan, Steiner, Brouwer, Bunton and Bob-Cat.

Jacobsen’s commercial customers consist primarily of golf courses, resort communities and municipalities, as well as commercial and industrial users such as airports, factories and professional lawn care services. Sales are made through a network of distributors and directly to end-users. Many sales are financed through Textron Financial Corporation.

Jacobsen has two major competitors for professional turf maintenance equipment and a number of smaller competitors for specialized industrial vehicles and professional lawn care machinery. Competition is based primarily on price, quality, product support, performance, reliability and reputation.

Textron’s Energy and Williams business reports through the Jacobsen management structure. Energy and Williams designs and manufacturers hydraulic pumps, cylinders, and valves for a variety of agricultural and industrial equipment applications. Energy and Williams faces competition from a number of large and small competitors based primarily on price, quality, product support, performance, reliability and reputation.

Kautex

Kautex, headquartered in Bonn, Germany, is a leading global manufacturer of blow-molded fuel systems and other blow-molded parts for automobile original equipment manufacturers and other industrial customers throughout Europe, North America, South America and parts of Asia. Kautex manufactures fuel systems for Japanese OEMs through a majority-owned joint venture in Japan. Through a wholly owned subsidiary in Shanghai, China, Kautex supplies the growing Chinese market. In North America, Kautex also produces metal fuel systems and engine camshafts for the automotive market and automatic assembly machines and systems, perishable tools and abrasives, and hydraulic components for industrial markets. In Germany, Kautex produces plastic containers and sheeting for household and industrial uses. Kautex also manufactures windshield and headlamp washer systems.

Kautex has a number of competitors worldwide, some of whom are owned by the automotive original equipment manufacturers that comprise Kautex’s targeted customer base. Competition is typically based on a number of factors including price, quality, reputation, prior experience and available manufacturing capacity.

Textron Tools & Components

Textron Tools & Components includes our Greenlee and Fluid & Power businesses.

Greenlee consists of Greenlee, Klauke, Tempo and InteSys. Greenlee, Klauke, and Tempo manufacture powered equipment, electrical test and measurement instruments, hand and hydraulic powered tools, and electrical and fiber optic connectors under the Greenlee, Fairmont, Klauke and Tempo brand names. The products are principally used in the electrical construction and maintenance, telecommunications and plumbing industries, and are distributed through a global network of sales representatives and distributors, and also directly to home improvement retailers and original equipment manufacturers. InteSys Technologies manufacturers injection-molded components and assemblies for telecommunications and other markets. The Greenlee businesses face competition from numerous manufacturers based primarily on price, quality, performance, reliability, delivery and reputation.

Fluid & Power consists of four business units: Engineered Products, Hydrocarbon Processing Products, Polymer Systems and Standard Products. Engineered Products manufactures and designs industrial gears, mechanical and hydraulic transmission systems, gear motors, and gear sets under the David Brown brand name. Hydrocarbon Processing Products designs and manufactures industrial pumps for the oil, gas, petrochemical and desalinization industries under the David Brown Union Pump and David Brown Guinard Pump brands. Polymer Systems designs and manufactures industrial pumps, extrusion equipment and screen changers for the polymer industry under the Maag brand name. Standard Products designs and manufactures industrial gears and gear sets, double enveloping worm gear speed reducers, screwjacks and hydraulic products under the Benzlers, Cone Drive, Radicon and David Brown Hydraulics brands. These products are sold to a variety of customers, including original equipment manufacturers, governments, distributors and end-users. Fluid  & Power faces competition from other manufacturers based primarily on price, quality, product support, performance, reliability, delivery and reputation.

Finance Segment

Our Finance segment consists of Textron Financial Corporation and its subsidiaries. Textron Financial Corporation is a diversified commercial finance company with core operations in six segments:

• Aircraft Finance provides financing for new and used Cessna business jets and piston-engine airplanes, Bell helicopters, and other general aviation aircraft;

• Asset-Based Lending provides asset-based loans to smaller middle-market companies that manufacture or distribute finished goods and provides factoring arrangements for freight companies and utility service providers;

• Distribution Finance offers inventory finance programs for dealers of Textron manufactured products and for dealers of a variety of other household, housing, leisure, agricultural and technology products;

• Golf Finance makes mortgage loans for the acquisition and refinancing of golf courses and provides term financing for E-Z-Go golf cars and Jacobsen turf care equipment;

• Resort Finance extends loans to developers of vacation interval resorts, secured primarily by notes receivable and interval inventory; and

• Structured Capital engages in tax-oriented, long-term leases of large-ticket equipment and real estate, primarily with investment grade lessees.

Textron Financial Corporation’s other financial services and products include transaction syndication, equipment appraisal and disposition, and portfolio servicing. Some of these ancillary services are offered through Asset Control LLC and TBS Business Services, Inc.

Textron Financial Corporation’s financing activities are confined almost exclusively to secured lending and leasing to commercial markets. Textron Financial Corporation’s services are offered primarily in North America. However, Textron Financial Corporation finances Textron products worldwide, principally Bell helicopters and Cessna aircraft.

The commercial finance businesses in which Textron Financial Corporation operates are highly fragmented and extremely competitive. Textron Financial Corporation is subject to competition from various types of financing institutions, including banks, leasing companies, insurance companies, commercial finance companies and finance operations of equipment vendors. Competition within the commercial finance industry is primarily focused on price, terms, structure and service.

Textron Financial Corporation’s largest business risk is the collectibility of its finance receivable portfolio.

   

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