Slides
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Q3 2026 Earnings Call Presentation OCTOBER 29, 2026 THE DATA IN THIS PACKAGE SHOULD BE READ IN CONJUNCTION WITH THE TEXTRON EARNINGS RELEASE AND ACCOMPANYING TABLES.
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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 2026 earnings release and our press release announcing the intended separation. 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
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Third Quarter 2026 Financial Highlights CONSOLIDATED REVENUES $3.8B SEGMENT PROFIT (1) $355M ADJ. EPS (1) $1.76 ($1.56 GAAP EPS) MANUFACTURING CASH FLOW BEFORE PENSION (1) $418M Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (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. 3 KEY HIGHLIGHTS Revenues of $3.8 billion, up 4% YoY Textron Aviation and Textron Systems revenues each up double digits Adjusted EPS of $1.76, up from $1.55 in 3Q25 Manufacturing cash flow before pension contributions of $418M, up from $281M in 3Q25 U.S. Army received Congressional approval for the ATR request for the MV-75 Cheyenne program Raised full year outlook for adjusted EPS to $6.55 to $6.65 and manufacturing cash flow before pension contributions to $800 to $900 million
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I. Third Quarter 2026 Update 4
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Textron Aviation – Q3 Highlights $1,479 $1,680 Q3 2025 Q3 2026 REVENUES (2) 5 ($ AMOUNTS IN MILLIONS) $172 $179 Q3 2025 Q3 2026 SEGMENT PROFIT (1)(2) 11.6% Profit Margin $7,724 $8,000 $8,028 $7,995 YE 2025 Q1 2026 Q2 2026 Q3 2026 BACKLOG Revenues up 14% YoY , with aftermarket revenue up 10% Best third quarter orders in 3 years Delivered 51 jets and 32 commercial turboprops Over 1,200 flight test hours across the Gen3 light jet development programs as we continue to move toward FAA certification Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Segment Profit is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release. (2) Reflects elimination of Textron eAviation as a separate reporting segment, and realignment of Textron eAviation’s financial results into other segments and corporate expenses. $492 $541 Q3 2025 Q3 2026 AFTERMARKET REVENUE 10.7% Profit Margin
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Bell – Q3 Highlights ($ AMOUNTS IN MILLIONS) $1,026 $933 $500 $600 $700 $800 $900 $1,000 Q3 2025 Q3 2026 REVENUES $92 $76 Q3 2025 Q3 2026 SEGMENT PROFIT (1) 9.0% Profit Margin ATR request related to the MV-75 Cheyenne program was approved and obligated pursuant to contract modifications for approximately $300 million MV-75 Cheyenne program continued to mature with the installation of the first nacelles and the first gearboxes entering test H-1 production activities ramped for Nigeria order $7,795 $7,603 $7,538 $7,562 YE 2025 Q1 2026 Q2 2026 Q3 2026 BACKLOG Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Segment Profit is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release. 6 8.1% Profit Margin
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Textron Systems – Q3 Highlights ($ AMOUNTS IN MILLIONS) $310 $360 Q3 2025 Q3 2026 REVENUES (2) $47 $57 Q3 2025 Q3 2026 SEGMENT PROFIT (1)(2) 15.2% Profit Margin Revenues up 16% YoY Continued strong growth driven by armored land vehicles and military training (ATAC) services Ship-to-Shore Connector program awarded $230 million $3,304 $3,559 $3,348 $3,491 YE 2025 Q1 2026 Q2 2026 Q3 2026 BACKLOG 7 Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Segment Profit is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release. (2) Reflects elimination of Textron eAviation as a separate reporting segment, and realignment of Textron eAviation’s financial results into other segments and corporate expenses. 15.8% Profit Margin
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Industrial – Q3 Highlights $761 $765 Q3 2025 Q3 2026 REVENUES 8 ($ AMOUNTS IN MILLIONS) $31 $38 Q3 2025 Q3 2026 SEGMENT PROFIT (1) 4.1% Profit Margin Revenues up 1% YoY E-Z-GO introduced third generation Samsung lithium battery technology Kautex prepares for additional launches of its Pentatonic battery enclosure system; ramps Allegro cleaning systems Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Segment Profit is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release. 5.0% Profit Margin
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Textron Financial – Q3 Highlights $26 $13 Q3 2025 Q3 2026 REVENUES ($ AMOUNTS IN MILLIONS) $18 $5 Q3 2025 Q3 2026 SEGMENT PROFIT (1) Decrease in revenues and segment profit driven by gains recognized in Q3 2025 related to the disposition of non-captive assets Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Segment Profit is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release. 9
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II. Third Quarter 2026 Financial Summary 10
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Third Quarter 2026 Financial Summary 11 Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. N/M = not meaningful. (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. (2) Reflects elimination of Textron eAviation as a separate reporting segment, and realignment of Textron eAviation’s financial results into other segments and corporate expenses. Q3 2026 Q3 2025 (2) % Change Revenues $ 3.8B $ 3.6B 4.1% Segment Profit $ 355M $ 360M (1.4)% EPS $ 1.56 $ 1.31 19.1% Adjusted EPS $ 1.76 $ 1.55 13.5% Manufacturing Cash Flow Before Pension Contributions $ 418M $ 281M 48.8%
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Third Quarter 2026 Segment Results REVENUES (2) SEGMENT PROFIT (1)(2) SEGMENT PROFITABILITY Segment Q3 2026 Q3 2025 % Change Q3 2026 Q3 2025 % Change Q3 2026 Q3 2025 Textron Aviation $ 1,680M $ 1,479M 13.6% $ 179M $ 172M 4.1% 10.7% 11.6% Bell $ 933M $ 1,026M (9.1)% $ 76M $ 92M (17.4%) 8.1% 9.0% Textron Systems $ 360M $ 310M 16.1% $ 57M $ 47M 21.3% 15.8% 15.2% Industrial $ 765M $ 761M 0.5% $ 38M $ 31M 22.6% 5.0% 4.1% Finance $ 13M $ 26M N/M $ 5M $ 18M N/M N/M N/M Total $ 3,751M $ 3,602M 4.1% $ 355M $ 360M (1.4)% 9.5% 10.0% 12 Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. N/M = not meaningful. (1) Segment Profit is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release. (2) Reflects elimination of Textron eAviation as a separate reporting segment, and realignment of Textron eAviation’s financial results into other segments and corporate expenses.
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Updated 2026 Full-Year Outlook Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Adjusted EPS and Manufacturing Cash Flow before Pension Contributions are non- GAAP measures that are defined and reconciled to GAAP in our earnings release. $6.55 - $6.65 Adjusted EPS (1) $800M - $900M Manufacturing Cash Flow Before Pension Contributions of ~$50M (1) 13 Prior: $6.40 - $6.60 Prior: $700M - $800M
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Non-GAAP Financial Measures 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 reflect the impact on net income as if our inventories were accounted for using a FIFO basis instead of a LIFO basis in order 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 reflect the impact on net income as if our inventories were accounted for using a FIFO basis instead of a LIFO basis in order 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. Organic Revenue Growth Organic revenue growth represents the change in total revenues (GAAP) excluding revenue changes related to acquisitions and divestitures completed in the last twelve months, along with the impact of foreign exchange rate fluctuations. 14
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Appendix 15
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Third Quarter 2026 Revenue Growth REVENUE GROWTH DIVESTITURE IMPACT FX IMPACT UN(FAV) ORGANIC GROWTH (1) Textron Aviation 13.6% - - 13.6% Bell (9.1)% - - (9.1)% Textron Systems 16.1% - - 16.1% Industrial 0.5% - (0.6)% (0.1)% Manufacturing Segments 4.5% - (0.1)% 4.4% Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Organic revenue growth is a non-GAAP measure that is defined on slide 14. 16
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Adjusted EBITDA Q3 2026 Q3 2025 Income From Continuing Operations Before Income Taxes $ 322 $ 316 Add: Interest Expense, net for Manufacturing group 28 26 Depreciation Expense 93 88 Intangible Asset Amortization 7 8 LIFO Inventory Provision 36 48 Adjusted EBITDA (1) $ 486 $ 486 Textron Inc. Q3 2026 Earnings Call Presentation: October 29, 2026. (1) Adjusted EBITDA is a non-GAAP measure that is defined on slide 14 ($ AMOUNTS IN MILLIONS) 17