Textron Inc. said its normalized net income for the fiscal third quarter ended Oct. 3 came to 57 cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.
EPS increased 8.9% year over year from 52 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $157.5 million, a gain of 7.7% from $146.3 million in the third quarter ended Sept. 27, 2014.
The normalized profit margin rose to 5.0% from 4.3% in the year-earlier period.
Total revenue decreased 7.3% year over year to $3.18 billion from $3.43 billion, and total operating expenses declined 8.4% year over year to $2.90 billion from $3.16 billion.
Reported net income rose 9.3% year over year to $175.2 million, or 63 cents per share, from $160.2 million, or 57 cents per share.