Bell 505. Photo courtesy of Bell
Textron reported increased revenues this quarter thanks to strong performance with some of its segments, including Bell, the company reported during its second quarter 2018 call Wednesday.
At Bell, revenues totaled $831 million, a 1%-increase from the same period last year. This was due to higher commercial volume that was partially offset by lower military revenues, Textron Chairman and CEO Scott C. Donnelly said during the call. The earnings report shows the company delivered 57 commercial helicopters this quarter, compared to 21 in the same quarter last year. This contributed to a $5 million segment profit, with a backlog of $5.5 billion.
“We are encouraged by revenue growth resulting from improving commercial demand across many of our end markets,” Donnelly said.
Bell delivered four 505s to Japan's Coast Guard this quarter for training, Donnelly said. With the 505 also receiving certification in China this quarter, Bell delivered the first three units in June to Bell's largest Chinese customer and is expected to grow the aircraft's presence in the region significantly in response to market demand in the region.
On the military side, Donnelly said, a third V-22 multi-year procurement contract with the U.S. Defense Department will provide program stability through 2024. The company also received approval from Congress to provide 12 H-1 attack helicopters to Bahrain.