Textron Aviation delivered 41 Cessna Citation business jets in the third quarter of 2024, surpassing last year’s 39 deliveries. This achievement comes despite a four-week strike by production workers that ended earlier this week. The company also delivered 25 turboprops (10 Caravans, three SkyCouriers, and 12 King Airs), a decrease from 38 in the same period last year.
Lower Deliveries Expected for Q4
Textron Inc. CEO Scott Donnelly indicated that the strike’s negative impact on production will lead to fewer deliveries in the fourth quarter, although he did not specify the exact reduction. Donnelly added that the strikes would reduce the company’s estimated revenue by around $500 million.
Efforts to Improve Production Processes
While acknowledging that the strike was challenging for the company, Donnelly noted that it also provided an opportunity to build up supply chain inventory to normalize production once workers returned. Aiming to mitigate lingering supply chain issues from COVID-19, Textron Aviation plans to have its production line fully operational by January 1, 2025.
Performance in the First Nine Months
In the first nine months of 2024, Textron Aviation delivered 119 Citations and 89 turboprops, matching last year’s levels. Revenue and profit for the first three quarters totaled $4 billion and $466 million, showing marginal growth.
Strong Demand for Business Jets
Donnelly highlighted continued strong demand for Textron Aviation’s business jets, buoyed by early sales of the Gen3 updates to the Citation M2, CJ3, and CJ4 models announced at NBAA-BACE this week.
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