Textron (TXT) official guidance

Our goal is to start seeing improvement in this area of overall product deliveries towards the middle, last part of 2027.

Textron also raised its expectation for full-year 2026 adjusted earnings per share from continuing operations, which is reconciled to GAAP in an attachment to this release, to be in the range of $6.55 to $6.65, up from our previous range of $6.40 to $6.60.

To wrap up with guidance, we are reiterating our expected full-year adjusted earnings per share to be in the range of $6.40-$6.60.

Textron reiterated its expectation for full-year 2026 GAAP earnings per share from continuing operations to be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release.

| Adjusted net income - Non-GAAP | | $ | 1,115 | — | $ | 1,150 | $ | 6.40 | — | $ | 6.60 |

We are projecting adjusted EPS in the range of $6.40-$6.60.

Textron expects full-year 2026 GAAP earnings per share from continuing operations will be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release.

Segment margin is expected to be in the range of approximately 11%-12%.

| Less: Capital expenditures | | | | (650) | | |

| Less: Capital expenditures | | | | (650) | | |

Textron reiterated its expectation for full-year 2026 GAAP earnings per share from continuing operations to be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release.

| Net income - GAAP | | $ | 940 | | $ | 975 | $ | 5.39 | | $ | 5.59 |

Textron expects full-year 2026 GAAP earnings per share from continuing operations will be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release.

We are also reiterating our expected full-year manufacturing cash flow before pension contributions to be in the range of $700 million-$800 million.

| Manufacturing cash flow before pension contributions - Non-GAAP (a) | | $ | 700 | — | $ | 800 |

| Manufacturing cash flow before pension contributions - Non-GAAP | | $ | 700 | — | $ | 800 |

Manufacturing cash flow before pension contributions is expected to be in the range of $700 million-$800 million.

The Company is estimating net cash provided by operating activities of the manufacturing group will be between $1.3 billion and $1.4 billion and manufacturing cash flow before pension contributions, a non-GAAP measure, will be between $700 million and $800 million, with planned pension contributions of about $50 million.

| Net income - GAAP (a) | | $ | 940 | | $ | 975 | $ | 5.39 | | $ | 5.59 |

| Net income - GAAP | | $ | 940 | | $ | 975 | $ | 5.39 | | $ | 5.59 |

| Adjusted net income - Non-GAAP (a) | | $ | 1,115 | — | $ | 1,150 | $ | 6.40 | — | $ | 6.60 |

| Adjusted net income - Non-GAAP | | $ | 1,115 | — | $ | 1,150 | $ | 6.40 | — | $ | 6.60 |

| Net cash from operating activities - GAAP (a) | | $ | 1,294 | — | $ | 1,394 |

| Net cash from operating activities - GAAP | | $ | 1,298 | — | $ | 1,398 |

The Company is estimating net cash provided by operating activities of the manufacturing group will be between $1.3 billion and $1.4 billion and manufacturing cash flow before pension contributions, a non-GAAP measure, will be between $700 million and $800 million, with planned pension contributions of about $50 million.

| Add: Total pension contributions | | | | 50 | | |

| Add: Total pension contributions | | | | 50 | | |

The Company is estimating net cash provided by operating activities of the manufacturing group will be between $1.3 billion and $1.4 billion and manufacturing cash flow before pension contributions, a non-GAAP measure, will be between $700 million and $800 million, with planned pension contributions of about $50 million.

| Proceeds from sale of property, plant and equipment | | | | 6 | | |

| Proceeds from sale of property, plant and equipment | | | | 2 | | |

Obviously, implied to that guide, we expect higher deliveries in 2026, and I would expect similar aftermarket growth profile of around 6%, just like we had in 2025.

We're forecasting a margin in a range of about 8%-9%.

We're also projecting about $140 million of net interest expense for the manufacturing group, $200 million of LIFO inventory provision, $30 million of intangible asset amortization, and $280 million of non-service pension income.