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TEXTRON Corporate Communications Department NEWS Release Textron Reports First Quarter 2021 Results • EPS of $ 0.75 ; adjusted EPS of $ 0.70 • . Operating margin of 8.9 % , up from 5.6 % a year ago Revenue up $ 102 million , or 3.7 % from prior year Net cash from operating activities of $ 107 million , up $ 500 million from prior year Aviation backlog $ 2.1 billion , up $ 452 million from year - end 2020 • Full - year adjusted EPS outlook raised by $ 0.10 Exhibit 99.1 Providence , Rhode Island April 29 , 2021 - Textron Inc. ( NYSE : TXT ) today reported first quarter 2021 net income of $ 0.75 per share . Adjusted net income , a non - GAAP measure that is defined and reconciled to GAAP in an attachment to this release , was $ 0.70 per share for the first quarter of 2021 , compared to $ 0.35 per share in the first quarter of 2020 . " Revenues were higher in the quarter primarily driven by higher volumes at Industrial and Bell , with solid margin performance across all our segments , " said Textron Chairman and CEO Scott C. Donnelly . " We also saw improving commercial aircraft demand at both Aviation and Bell in the quarter . " Cash Flow Net cash provided by operating activities of continuing operations of the manufacturing group for the first quarter was $ 107 million , compared to a cash outflow of $ 393 million last year . Manufacturing cash flow before pension contributions , a non - GAAP measure that is defined and reconciled to GAAP in an attachment to this release , totaled $ 71 million compared to a use of cash of $ 430 million last year . In the quarter , Textron returned $ 91 million to shareholders through share repurchases . Outlook Textron now expects 2021 earnings per share from continuing operations to be in a range of $ 2.76 to $ 3.00 , or $ 2.80 to $ 3.00 on an adjusted basis , up $ 0.10 from our previous outlook . Textron reiterated its expectation for cash flow from continuing operations of the manufacturing group before pension contributions of $ 600 to $ 700 million with planned pension contributions of about $ 50 million . Donnelly continued , " With a strong start to the year , we expect to see continuing improvements in commercial demand across our end - markets . "