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© 2025 TEXTRON INC. Q3 2025 Earnings Call Presentation The data in this package should be read in conjunction with the Textron earnings release and accompanying tables. 1 October 23 rd, 2025
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© 2025 TEXTRON INC. Forward -looking Information Certain statements in this package and other oral and written statements made by Textron from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or project revenues, income, returns or other financial measures. These forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward- looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including the risks and uncertainties set forth under "Forward-Looking Information" in our third quarter 2025 earnings release. Additional information on risks and uncertainties that may impact forward-looking statements is discussed under "Risk Factors" in our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. 2 Textron Inc. Q3 2025 Earnings Call Presentation; October 23, 2025
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© 2025 TEXTRON INC. (1) Segment Profit, Adjusted EPS and Manufacturing cash flow before pension contributions are non-GAAP measures that are defined and reconciled to GAAP in our earnings release. Q3 2025 Q3 2024 Revenues $ 3.6B $ 3.4B Segment Profit $ 357M $ 284M EPS $ 1.31 $ 1.18 Adjusted EPS $ 1.55 $ 1.40 Manufacturing Cash Flow Before Pension Contributions $ 281M $ 147M Pension Contributions $ 9M $ 10M 3 Textron Inc. Q3 2025 Earnings Call Presentation; October 23, 2025 Key Data – Q3 2025
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© 2025 TEXTRON INC. Q3 2025 Revenue Growth Revenue Growth Divestiture Impact Organic Growth FX Impact Un(Fav) Organic Growth Before FX Textron Aviation 10.3% - 10.3% - 10.3% Bell 10.4% - 10.4% - 10.4% Textron Systems 2.0% - 2.0% - 2.0% Industrial (9.4%) 10.7% 1.3% (0.8%) 0.5% Textron eAviation (16.7%) - (16.7%) - (16.7%) Manufacturing Segments 4.7% 2.8% 7.5% (0.2%) 7.3% Organic Growth includes revenue changes resulting from volume, price, and foreign exchange as compared to the corresponding peri od in the prior year. For our segments that contract with the U.S. Government, volume represents changes in revenue related to these contracts. 4 Textron Inc. Q3 2025 Earnings Call Presentation; October 23, 2025
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© 2025 TEXTRON INC. Adjusted EBITDA Textron Inc. Q3 2025 Earnings Call Presentation; October 23, 2025 ($ amounts in millions) Q3 2025 Q3 2024 Income from Continuing Operations Before Income Taxes $ 316 $ 252 Add: Interest Expense, net for Manufacturing group 26 22 Depreciation Expense 88 91 Intangible Asset Amortization 8 9 LIFO Inventory Provision 48 49 Special Charges - (2) Adjusted EBITDA (1) $ 486 $ 421 (1) Adjusted EBITDA is a non-GAAP measure that is defined on slide 6. 5
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© 2025 TEXTRON INC. Textron Inc. Q3 2025 Earnings Call Presentation; October 23, 2025 We supplement the reporting of our financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial measures. These non-GAAP financial measures exclude certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures may be useful for period-over-period comparisons of underlying business trends and our ongoing business performance, however, they should be used in conjunction with GAAP measures. Our non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define similarly named measures differently. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. We utilize the following definitions for the non-GAAP financial measures included in this release and have provided a reconciliation of the GAAP to non-GAAP amounts for each measure: Adjusted Earnings Per Share Adjusted earnings per share excludes the following, net of tax: LIFO inventory provision, intangible asset amortization, special charges, and gains/losses on major business dispositions. LIFO inventory provision is excluded to improve comparability with other companies in our industry who have not elected to use the LIFO inventory costing method. Intangible asset amortization is excluded to improve comparability as the impact of such amortization can vary substantially from company to company depending upon the nature and extent of acquisitions and exclusion of this expense is consistent with the presentation of non-GAAP measures provided by other companies within our industry. Management believes that it is important for investors to understand that these acquired intangible assets were recorded as part of purchase accounting and contribute to revenue generation. We consider items recorded in special charges, such as enterprise- wide restructuring, certain asset impairment charges, and acquisition-related restructuring, integration and transaction costs, to be of a non-recurring nature that is not indicative of ongoing operations. Adjusted EBITDA Adjusted EBITDA represents income from continuing operations before income taxes adjusted to exclude the following: interest expense, net for Manufacturing group; depreciation expense; intangible asset amortization; LIFO inventory provision; and special charges. Interest expense, net for Manufacturing group is excluded as it is dependent on the company’s capital structure and can vary substantially between companies. Depreciation expense is a non-cash item that is also excluded as it can vary substantially between companies depending on the assumptions used regarding useful economic life, salvage value and depreciation method. Intangible asset amortization is excluded to improve comparability as the impact of such amortization can vary substantially from company to company depending upon the nature and extent of acquisitions and exclusion of this expense is consistent with the presentation of non-GAAP measures provided by other companies within our industry. LIFO inventory provision is excluded to improve comparability with other companies in our industry who have not elected to use the LIFO inventory costing method. We consider items recorded in special charges, such as enterprise-wide restructuring, certain asset impairment charges, and acquisition-related restructuring, integration and transaction costs, to be of a non-recurring nature that is not indicative of ongoing operations. 6 Non- GAAP Financial Measures
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