Textron Hits The Brakes On Powersports: Strategic Shift Amid Soft Demand
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Textron Inc. has announced a pause in powersports production due to soft consumer demand, leading to a drop in its stock price. The company expects an inventory valuation charge that will reduce adjusted earnings per share for 2024 by approximately $0.12 to $0.16. Additionally, Textron has increased its pre-tax special charges for its 2023 restructuring plan. The revised outlook for 2024 adjusted earnings per share is now $0.40 to $0.60, down from $0.20 to $0.40. TXT shares are currently down 2.98%.
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