Despite higher deliveries, Bell saw lower revenue and profit in the first quarter largely because of the mix of commercial helicopters sold, parent company Textron reported yesterday. During the quarter, Bell delivered 25 commercial helicopters, up from 17 in the same three-month period last year.
However, revenue slipped to $834 million, down $12 million from the first quarter of last year. Profit was also lower in the quarter at $98 million versus $105 million in the same year-ago period. Textron chief financial officer Frank Connor noted on an earnings call with analysts yesterday that the effects of the mix of commercial helicopter deliveries were partially offset by higher military revenue.
“During the quarter, we saw momentum building commercial demand across all our product aircraft models and markets with a strong quarter of new orders,” added Textron president and CEO Scott Donnelly.