Textron has announced that its Textron Aviation segment saw revenues rise to $1.2 billion in the third quarter (Q3) of 2021, an increase of $386 million from Q3 2020. According to the company, the increase was primarily due to a “higher Citation jet volume of $290 million, aftermarket volume of $62 million and commercial turboprop volume of $48 million.” Textron Aviation delivered 49 jets and 35 commercial turboprops in the quarter, up from 25 and 21 units respectively over the same time period last year.
“In the quarter, we saw solid execution, higher manufacturing margin and continued strong cash generation,” said Textron Chairman and CEO Scott C. Donnelly. “At Textron Aviation, we continued to see signs of a strong recovery in the general aviation market with a 49% increase in revenues over last year’s third quarter and a $721 million increase in backlog.”
Textron Aviation reported a backlog of $3.5 billion at the end of Q3 2021. The segment posted a profit of $98 million in the third quarter of 2021. Citing lower military revenues, Textron also reported that revenues for its subsidiary, Bell, were down $24 million from last year at $769 million. Bell delivered 33 commercial helicopters in the quarter compared to 41 in Q3 2020.