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Textron Stock Falls 8.2% Following Q2 Earnings Report
Textron (NYSE: TXT) stock dropped 8.2% on Tuesday despite reporting non-GAAP earnings that beat analyst forecasts. The decline was attributed to several factors, including lower GAAP earnings of $1.42 per share (compared to $1.62 non-GAAP), significantly slower revenue growth of 3% in Q2, a substantial year-over-year decrease in free cash flow from $395 million to $235 million, and full-year guidance that fell slightly below analyst expectations.
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