Textron — Apr 30, 2026 release

Three Months Ended April 4, 2026 March 29, 2025 Net income - GAAP $ 220   $ 207   Add: LIFO inventory provision, net of tax 30  22  Intangible asset amortization, net of tax 6  6  Adjusted net income - Non-GAAP $ 256   $ 235   Diluted earnings per share - GAAP $ 1.25   $ 1.13   Add: LIFO inventory provision, net of tax 0.17  0.12  Intangible asset amortization, net of tax 0.03  0.03  Adjusted diluted earnings per share - Non-GAAP $ 1.45   $ 1.28   2026 Outlook Diluted EPS Net income - GAAP $ 940   $ 975   $ 5.39   $ 5.59   Add: LIFO inventory provision, net of tax 150 0.87 Intangible asset amortization, net of tax 25 0.14 Adjusted net income - Non-GAAP $ 1,115   — $ 1,150   $ 6.40   — $ 6.60   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