Aircraft
Textron Sees Profits and Backlog Grow, Despite Revenue Dip
Textron Aviation delivered 50 jets and 44 commercial turboprops in Q4 2023
Textron Aviation Citation CJ3
The Citation CJ3 Gen2 aircraft was unveiled in October 2023.

Textron Aviation saw modest declines in revenues in the fourth quarter, reporting on Wednesday that these totaled $1.5 billion, representing a decrease of $58 million compared to the same period in 2022. This reduction was attributed to a lower volume and mix of aircraft deliveries but partially offset by a rise in pricing. The division's revenue in Q3 2023 was slightly lower, at $1.3 billion, and the U.S. manufacturer provided an optimistic outlook for 2024, indicating expectations for continued growth and expansion in aerospace.

The company delivered 50 jets and 44 civil turboprops in the fourth quarter, marking a slight decrease from 52 jets and 47 turboprops in the same period in 2022. It reported that profits reached $193 million in the fourth quarter, up $23 million from a year ago.