Textron’s aviation segment saw an increase in revenues in the first quarter (Q1) of 2022, reporting a $175 million rise over Q1 of last year to $1.0 billion. According to the company, the jump was primarily due to higher aircraft and aftermarket volume. Textron Aviation delivered 39 jets and 31 commercial turboprops in Q1 2022, compared to 28 and 14 respectively in Q1 2021. The company reported a segment profit of $121 million and backlog of $5.1 billion as of the end of the first quarter.
“In the quarter, we saw higher overall revenues, net operating profit and cash generation as compared to last year’s first quarter,” said Textron Chairman and CEO Scott C. Donnelly. “At Textron Aviation, we saw continued strong order momentum with backlog growth of $1 billion and solid execution with segment profit margin of 11.6%.”
Textron subsidiary Bell reported a $12 million decrease in revenues compared to Q1 2021 to $834 million. Textron cited the mix of aircraft sold during the periods as the main reason for the drop, noting that it was partially offset by higher military revenues. Bell delivered 25 commercial helicopters in Q1 2022 compared to 17 last year. Bell’s quarterly profit came in at $98 million and its backlog at the end of the quarter was $4.8 billion.