Textron — Jul 24, 2025 release

Three Months Ended Six Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Income from continuing operations - GAAP $ 245   $ 260   $ 452   $ 461   Add: LIFO inventory provision, net of tax 29  20  51  35  Intangible asset amortization, net of tax 6  7  12  13  Special charges, net of tax 1  9  1  20  Adjusted income from continuing operations - Non-GAAP $ 281   $ 296   $ 516   $ 529   Diluted earnings per share: Income from continuing operations - GAAP $ 1.35   $ 1.35   $ 2.48   $ 2.38   Add: LIFO inventory provision, net of tax 0.16  0.10  0.28  0.18  Intangible asset amortization, net of tax 0.03  0.04  0.06  0.07  Special charges, net of tax 0.01  0.05  0.01  0.11  Adjusted income from continuing operations - Non-GAAP $ 1.55   $ 1.54   $ 2.83   $ 2.74   2025 Outlook Diluted EPS Income from continuing operations - GAAP $ 955   $ 990   $ 5.19   $ 5.39   Add: LIFO inventory provision, net of tax 124 0.67 Intangible asset amortization, net of tax 25 0.13 Special charges, net of tax 1 0.01 Adjusted income from continuing operations - Non-GAAP $ 1,105   — $ 1,140   $ 6.00   — $ 6.20   TEXTRON INC. Non-GAAP Financial Measures and Outlook (Continued) (Dollars in millions, except per share amounts) Manufacturing Cash Flow Before Pension Contributions and Outlook Manufacturing cash flow before pension contributions adjusts net cash from operating activities (GAAP) for the following: • Deducts capital expenditures and includes proceeds from insurance recoveries and the sale of property, plant and equipment to arrive at the net capital investment required to support ongoing manufacturing operations; • Excludes dividends received from Textron Financial Corporation (TFC) and capital contributions to TFC provided under the Support Agreement and debt agreements as these cash flows are not representative of manufacturing operations; • Adds back pension contributions as we consider our pension obligations to be debt-like liabilities. Additionally, these contributions can fluctuate significantly from period to period and we believe that they are not representative of cash used by our manufacturing operations during the period. While we believe this measure provides a focus on cash generated from manufacturing operations, before pension contribution