The lithium powered Freedom RXV ELiTE helped drive E-Z-GO sales at Textron.
Textron, manufacturer of Arctic Cat and Textron Off Road utility vehicles, E-Z-GO golf cars and other small, task-oriented vehicles recently reported Q4 2017 financial results. Revenues in the quarter were $4.0 billion, up 5% from the fourth quarter of 2016. Textron segment profit in the quarter was $360 million, down $31 million from the fourth quarter of 2016. For the year revenue increased to $14.2 billion up from $13.8 billion. Textron also produces Bell helicopters, Citation jets and various military systems and products. Textron is forecasting 2018 revenues of approximately $14.6 billion, up 3% percent from the prior year.
The following are some of the highlights of the earnings call and presentation related to small, task-oriented vehicles.
- Industrial revenues, which includes Arctic Cat, E-Z-GO and other Specialized Vehicles, were $1.1 billion for the quarter, up 20% largely related to the recent Arctic Cat acquisition.
- Industrial segment profit was up $10 million from the fourth quarter of 2016 due to favorable performance.
- E-Z-GO sales increased led by the new lithium powered ELiTE golf car which has seen over 21,000 units delivered
- In December the new Havoc X side-by-side was introduced
Guidance for 2018
- At industrial, we’re expecting growth in each of our businesses resulting in projected segment revenue of about $4.7 billion and a margin of about 8%.
Learn More: Seekingalpha.com (Earnings Call Transcript)