Take a fresh look at your lifestyle.

Textron delivers first SkyCourier with Combi interior

WICHITA, Kan. – Textron Aviation Inc., a subsidiary of Textron Inc . (NYSE: NYSE:), has delivered the first Cessna SkyCourier aircraft equipped with a new Combi interior to Everts Air, a carrier based in Alaska. This recent delivery, which took place earlier this week, marks a significant milestone for the model, which received Federal Aviation Administration (FAA) certification for this new configuration in May 2024.

The Cessna SkyCourier Combi variant offers the flexibility of carrying both passengers and cargo simultaneously. The aircraft joins Everts Air’s existing fleet, which includes a SkyCourier freighter and six Cessna Caravans, enhancing the operator’s ability to serve the diverse transportation needs of Alaska’s remote communities.

The SkyCourier is a twin-engine, high-wing turboprop designed to fulfill various roles, including air freight, commuter, and special mission operations. It is available in freighter and passenger versions, with the latter featuring a 19-seat layout, separate crew and passenger entry, and ample baggage space. The freighter model boasts a 6,000-pound payload capacity and can accommodate up to three LD3 shipping containers.

Equipped with Pratt & Whitney PT6A-65SC engines and the McCauley Propeller C779, the aircraft is built for performance and reliability. The SkyCourier also includes the advanced Garmin (NYSE:) G1000 NXi avionics suite and offers a maximum cruise speed of over 200 knots with a range of up to 900 nautical miles.

Robert W. Everts, owner of Everts Air, praised the SkyCourier Combi for its adaptability and potential to meet the unique demands of transportation in Bush Alaska. Lannie O’Bannion, senior vice president of Sales and Flight Operations at Textron Aviation, expressed gratitude for Everts Air’s continued trust in Cessna’s products.

Textron Aviation is recognized for its broad range of aviation products, including business jets, turboprops, and military defense aircraft. The company’s commitment to innovation and customer service has established its position in the global aviation market.

This delivery of the first Cessna SkyCourier with a Combi interior conversion represents an advancement in Textron Aviation’s product offerings, catering to the versatile requirements of operators worldwide. The information for this article is based on a press release statement.

In other recent news, Textron Systems, a subsidiary of Textron Inc., has partnered with Kodiak Robotics to develop an autonomous military ground vehicle. This collaboration, leveraging Textron’s military vehicle experience and Kodiak’s autonomous driving technology, aims to enhance national security by reducing risks to service members in the field. The autonomous vehicle, devoid of space for a human driver, is a first for Kodiak in military applications.

On the financial front, CFRA has revised Textron’s 12-month price target from $112 to $99, despite maintaining a Buy rating. This adjustment follows Textron’s Q1 earnings per share (EPS) of $1.20, which fell short of the consensus estimate by $0.03, and a modest revenue growth of 3.7% year-over-year. However, the firm’s analyst remains optimistic about the prospects for Textron’s Aviation and Bell segments.

Textron also reported increased Q1 revenue of $3.1 billion, up from $3 billion in the previous year, with a rise in segment profit to $290 million. Textron Aviation showed strong demand, delivering 36 jets and 20 commercial turboprops, while Bell’s revenues rose due to higher military volume. Despite challenges in the Industrials division, the company maintained its full-year adjusted earnings per share guidance of $6.20 to $6.40.

InvestingPro Insights

Textron Aviation, a key player in the aviation industry, continues to make strides with its latest delivery to Everts Air, showcasing the versatility and reliability of its Cessna SkyCourier aircraft. The financial health and market performance of Textron Inc. (NYSE: TXT) are critical for investors and stakeholders monitoring the company’s growth trajectory.

InvestingPro data reveals Textron Inc.’s robust market capitalization standing at $16.4 billion, indicating the company’s significant presence in the market. The company’s Price to Earnings (P/E) ratio, a measure of its current share price relative to its per-share earnings, is at 18.18, with an adjusted P/E ratio over the last twelve months as of Q1 2024 at 15.61. This adjustment suggests a favorable earnings outlook as the company continues to innovate and expand its aviation product line.

Furthermore, Textron’s commitment to shareholder returns is evidenced by its impressive track record of maintaining dividend payments for 54 consecutive years, a testament to its financial stability and prudent capital management. This is complemented by the company’s solid revenue growth of 7% over the last twelve months as of Q1 2024, which aligns with its strategic business developments and the expansion of its aviation offerings.

InvestingPro Tips underscore the company’s strategic financial decisions, such as the aggressive share buybacks, which can be indicative of management’s confidence in the company’s future performance. Additionally, the company trades at a high P/E ratio relative to near-term earnings growth, which investors may interpret as a sign of the market’s high expectations for Textron’s future profitability.

For investors seeking a deeper analysis and more tips, InvestingPro provides additional insights into Textron’s financial metrics and forecasts. There are currently 6 more InvestingPro Tips available for Textron Inc., which can be accessed at https://www.investing.com/pro/TXT. Interested individuals can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking further valuable information that could inform investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More