Diversified manufacturer Textron Inc. (NYSE: TXT), Providence, RI, reported sales for the third quarter of $3.5 billion, up 7.2 percent compared to the prior-year quarter. Profit decreased from $421 million to $159 million.
Industrial sales for the quarter were $1 billion, up 17.6 percent from the same period in 2016, largely due to the impact of the Arctic Cat acquisition. Aviation sales were down 3.7 percent to $1.2 billion.
Bell segment sales were up 10.6 percent to $812 million, while Textron Systems sales were up 10.9 percent to $458 million.
For the first nine months, sales were $10.2 billion, up 2.2 percent year-over-year. Profit was $413 million compared to $748 million the previous year.
