RTTNews | Jan 27, 2022 06:54AM EST

06:53 Thursday, January 27, 2022 (RTTNews.com) - Industrial conglomerate Textron Inc. (TXT), while announcing weak profit in its fourth quarter, said it expects fiscal 2022 earnings per share will be in the range of $3.80 to $4.00.

The company further expects revenues of around $13.3 billion.

On average, three analysts polled by Thomson Reuters expect earnings of $3.58 per share on revenues of $11.84 billion for the year. Analysts' estimates typically exclude special items.

In fiscal 2021, earnings were $3.30 per share, and revenues were $12.38 billion.

Textron Chairman and CEO Scott Donnelly said, "Our outlook reflects continued momentum in our commercial businesses and ongoing investment in new products to increase long-term shareholder value."

On January 25, Textron's Board of Directors approved a new authorization for the repurchase of up to 25 million shares.

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