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Textron (TXT) Q4 FY2021 earnings: revenue $3.3 billion, down 9.4% on the year

Textron Inc. (TXT) reported revenue of $3.3 billion for Q4 FY2021, the quarter ended 1 January 2022, down 9.4% on the same quarter a year earlier. Net income was $207 million, down 12.3% on the year, and diluted earnings per share $0.93. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2022.

Revenue
$3.3 billion
-9.4% on the year · +11.1% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
n/a
Q1 FY2020Q4 FY2021
Net income
$207 million
-12.3% on the year · +11.9% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$0.93
-9.7% on the year · +13.4% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue3,3222,9903,667+11.1%-9.4%
Cost of revenue2,751n/an/a
Gross profit571n/an/a
Gross margin17.2%n/an/a
Selling, general and administrative326n/an/a
Interest expense33.0n/an/a
Pre-tax income247n/an/a
Income tax40.0n/an/a
Effective tax rate16.2%n/an/a
Net income207185236+11.9%-12.3%
Net margin6.2%n/an/a
Diluted EPS$0.93$0.82$1.03+13.4%-9.7%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow425n/an/a
Capital expenditure171n/an/a
Free cash flow254n/an/a
Free cash flow margin7.6%n/an/a
Cash from investing-154n/an/a
Cash from financing-334n/an/a
Depreciation and amortisation10597.0108+8.2%-2.8%
Buybacks335n/an/a
Dividends paid4.0n/an/a
Diluted shares, weighted227m226m229m+0.0%-1.2%
Shares outstanding at period end217m221m226m-1.9%-4.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity6,8156,0375,845+12.9%+16.6%
Debt3,7673,7724,369-0.1%-13.8%
Operating lease liabilities325n/an/a
Other liabilities4,920n/an/a
Total liabilities and equity15,827n/an/a
Fixed assets2,538n/an/a
Intangible assets438n/an/a
Cash and equivalents2,1172,1822,254-3.0%-6.1%
Inventory3,468n/an/a
Other assets7,266n/an/a
Total assets15,827n/an/a

Questions

What was Textron's revenue in Q4 FY2021?

Textron (TXT) reported revenue of $3.3 billion for Q4 FY2021, the quarter ended 1 January 2022, down 9.4% on the same quarter a year earlier.

How much did Textron earn in Q4 FY2021?

Net income for Q4 FY2021 was $207 million, down 12.3% on the year, and diluted earnings per share $0.93.

When did Textron report Q4 FY2021 results?

Textron filed its 10-K for the year that ended with the quarter on 17 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022 †Q3 FY2022 †Q4 FY2022 * †Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 * †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue3,3223,0013,1543,0783,6363,0243,4243,3433,8923,1353,5273,4273,6133,3063,7163,6024,1753,6953,8273,751
Cost of revenue2,7512,4922,6412,5843,0832,5312,8462,7793,2492,4702,8342,8093,0872,6723,0072,9483,4773,0233,1333,086
Gross profit571509513494553493578564643665693618526634709654698672694665
Gross margin17%17%16%16%15%16%17%17%17%21%20%18%15%19%19%18%17%18%18%18%
R&Dn/an/an/an/an/an/an/an/an/a144105126116132137118134120116110
SG&A326305279266336305289303328316293282265298303257315321311271
Interest expense33.033.032.031.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Pre-tax income247232263264257227329301230237323252131241301316279267304322
Tax rate16%17%17%15%12%16%20%11%13%15%20%12%-8%14%19%26%15%18%18%16%
Net income207193217225226191263269198201259223141207245234235220248270
Net margin6%6%7%7%6%6%8%8%5%6%7%7%4%6%7%6%6%6%6%7%
Diluted EPS$0.93$0.88$1.00$1.06$1.07$0.92$1.30$1.35$0.99$1.03$1.35$1.18$0.77$1.13$1.35$1.31$1.32$1.25$1.42$1.56
Operating cash flow425241372348527163296258549-7.0367208446-124387349700-117304425
Capital expenditure17148.066.078.016262.083.079.017866.074.071.015356.078.076.017313395.0102
Free cash flow254193306270365101213179371-73.0293137293-180309273527-250209323
Buybacks335157282200228377273235283317358215232215214206187168209239
Dividends paid4.05.04.04.04.04.04.04.04.04.04.00.04.03.04.04.07.03.04.03.0
Shares outstanding217m216m212m209m206m202m198m196m193m191m187m186m183m181m178m176m174m174m172m169m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 1 January 2022, filed 17 February 2022: the filing.