Salem Radio Network News Wednesday, May 25, 2022

Business

Textron reports fall in quarterly profit

(Reuters) – Business jet maker Textron Inc reported a 14% fall in quarterly profit as labor shortages and lingering supply chain issues restricted the company’s deliveries in the quarter.

Net income was $207 million, or $0.93 cents per share, in the three months ended December 31, compared with a profit of $236 million, or $1.03​​ cents per share, a year earlier.

(Reporting by Kannaki Deka in Bengaluru; Editing by Krishna Chandra Eluri)

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