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The latest update is out from Textron ( (TXT) ).
Textron Inc. is pausing production of its TSV powersports products due to soft consumer demand and is exploring strategic alternatives for this line. This decision is part of a broader restructuring plan leading to increased pretax special charges and an inventory valuation charge, impacting the company’s financials for 2024 and leading to expected completion of restructuring actions by the first half of 2025.
More about Textron
Textron Inc. operates in the industrial segment through its Textron Specialized Vehicles (TSV) business, focusing on powersports products among other offerings.
YTD Price Performance: 1.24%
Average Trading Volume: 1,105,182
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $14.85B
See more insights into TXT stock on TipRanks’ Stock Analysis page.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
