RTTNews | Oct 29, 2020 06:45AM EDT

06:45 Thursday, October 29, 2020 (RTTNews.com) - Textron Inc. (TXT) released earnings for third quarter that decreased from last year.

The company's profit came in at $115 million, or $0.50 per share. This compares with $220 million, or $0.95 per share, in last year's third quarter.

Excluding items, Textron Inc. reported adjusted earnings of $121 million or $0.53 per share for the period.

Analysts had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.0% to $2.74 billion from $3.26 billion last year.

Textron Inc. earnings at a glance:

-Analysts Estimate: $0.35-Revenue (Q3): $2.74 Bln vs. $3.26 Bln last year.

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