Exhibit 99.1

NEWS Release

Textron Reports First Quarter 2017 Results; Updates 2017 Financial

Outlook for Arctic Cat Acquisition

Providence, Rhode Island – April 19, 2017 – Textron Inc. (NYSE: TXT) today reported first quarter 2017 income from continuing operations of $0.37 per share or $0.46 per share of adjusted income from continuing operations, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, compared to $0.55 per share in the first quarter of 2016.  During this year’s first quarter, the company recorded $37 million of pre-tax special charges ($0.09 per share, after-tax).

Revenues in the quarter were $3.1 billion, down 3.4 percent from the first quarter of 2016. Textron segment profit in the quarter was $219 million, down $61 million from the first quarter of 2016.

“Overall, revenues and profit were down in the quarter consistent with our expectations,” said Textron Chairman and CEO Scott C. Donnelly. “We are continuing to execute our restructuring plan while maintaining our focus on new product investment and the integration of acquired businesses, all of which will have a positive impact on our long term growth outlook.”

Cash Flow

Net cash used by operating activities of continuing operations of the manufacturing group for the first quarter totaled $143 million, compared to a use of cash of $148 million in last year’s first quarter. Manufacturing cash flow before pension contributions, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, reflected a use of cash of $205 million compared to a use of cash of $222 million during last year’s first quarter.

Outlook

As a result of the March 6, 2017 closing of the Arctic Cat acquisition, the company is adjusting its 2017 earnings guidance. The company now expects full-year 2017 GAAP earnings per share from continuing operations in a range of $2.22 to $2.45, or $2.40 to $2.60 on an adjusted basis (non-GAAP), which is reconciled to GAAP in an attachment to this release.  This reflects earnings per share dilution of $0.10 per share, consistent with our expectations at the time we announced the transaction. The company also estimates that it will record 2017 full-year Arctic Cat pretax acquisition and restructuring costs of $30 million on the special charges line, which is included in its GAAP guidance range.

The company still expects net cash provided by operating activities of continuing operations of the manufacturing group of $1,045 million to $1,145 million and manufacturing cash flow before pension contributions (the non-GAAP measure) of $650 to $750 million.

First Quarter Segment Results

Textron Aviation

Revenues at Textron Aviation were down $121 million, primarily due to lower military and commercial turboprop volumes.

Textron Aviation delivered 35 new Citation jets, up from 34 jets last year, 12 King Air turboprops compared to 26 in last year’s first quarter, and 2 Beechcraft T-6 trainers, down from 9 last year.

Textron Aviation recorded a segment profit of $36 million in the first quarter compared to $73 million a year ago, primarily due to lower volume and mix.

Textron Aviation backlog at the end of the first quarter was $1.0 billion, approximately flat from the end of the fourth quarter.

Bell

Bell revenues were down $117 million, as Bell delivered 27 commercial helicopters compared to 30 units last year, 6 V-22’s in the quarter, flat with last year’s first quarter and 3 H-1’s compared to 10 H-1’s last year.

Segment profit was up $1 million despite the decline in revenues, primarily due to improved performance.

Bell backlog at the end of the first quarter was $5.7 billion, up $292 million from the end of the fourth quarter.

Textron Systems

Revenues at Textron Systems increased $92 million, primarily due to higher volume at Weapons and Sensors and Marine and Land Systems.

Segment profit was down $9 million, due to unfavorable performance at Marine and Land Systems.

Textron Systems’ backlog at the end of the first quarter was $1.7 billion, down $113 million from the end of the fourth quarter.

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Industrial

Industrial revenues increased $40 million due to the impact of acquisitions and higher volumes at Kautex.

Segment profit was down $15 million, primarily due to unfavorable performance which includes the operating results of Arctic Cat.

Finance

Finance segment revenues decreased $2 million and segment profit decreased $1 million.

Conference Call Information

Textron will also host a conference call at 8:00 a.m. (Eastern) to discuss the results and the company’s outlook.  The call will be available via webcast at www.textron.com or by direct dial at (877) 209-9921 in the U.S. or (612) 332-0107 outside of the U.S. (request the Textron Earnings Call).

In addition, the call will be recorded and available for playback beginning at 10:30 a.m. (Eastern) on Wednesday, April 19, 2017 by dialing (320) 365-3844; Access Code: 408726.

A package containing key data that will be covered on today’s call can be found in the Investor Relations section of the company’s website at www.textron.com.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Off Road, Textron Systems, and TRU Simulation + Training. For more information visit: www.textron.com.

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Forward-looking Information

Certain statements in this release and other oral and written statements made by us from time to time are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures, often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “guidance,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements.  In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors”, among the factors that could cause actual results to differ materially from past and projected future results are the following: Interruptions in the U.S. Government’s ability

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to fund its activities and/or pay its obligations; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government’s ability to unilaterally modify or terminate its contracts with us for the U.S. Government’s convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries; our Finance segment’s ability to maintain portfolio credit quality or to realize full value of receivables; performance issues with key suppliers or subcontractors; legislative or regulatory actions, both domestic and foreign, impacting our operations or demand for our products; our ability to control costs and successfully implement various cost-reduction activities; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; pension plan assumptions and future contributions; demand softness or volatility in the markets in which we do business; cybersecurity threats, including the potential misappropriation of assets or sensitive information, corruption of data or, operational disruption; difficulty or unanticipated expenses in connection with integrating acquired businesses; and the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue and profit projections.

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TEXTRON INC.
Revenues by Segment and Reconciliation of Segment Profit to Net Income
Three Months Ended April 1, 2017 and April 2, 2016
(Dollars in millions, except per share amounts)
(Unaudited)

Income from Continuing Operations and Diluted Earnings Per Share (EPS) GAAP to Non-GAAP Reconciliation:

(a)         During 2016, we initiated a plan to restructure and realign our businesses by implementing headcount reductions, facility consolidations and other actions in order to improve overall operating efficiency across Textron.  In the three months ended April 1, 2017, we recorded Special charges of $15 million related to this plan.  In connection with the acquisition of Arctic Cat, we recorded Special charges of $22 million in the three months ended April 1, 2017, which consisted of severance costs of $19 million, principally related to change-of-control provisions, and transaction costs of $3 million.

(b)         Adjusted income from continuing operations and adjusted diluted earnings per share are non-GAAP financial measures as defined in “Non-GAAP Financial Measures” attached to this release.

Textron Inc.

Condensed Consolidated Balance Sheets

(In millions)

(Unaudited)

TEXTRON INC.

MANUFACTURING GROUP

Condensed Schedule of Cash Flows

(In millions)

(Unaudited)

(a)Manufacturing cash flow before pension contributions is a non-GAAP financial measure as defined in “Non-GAAP Financial Measures” attached to this release.

TEXTRON INC.

Condensed Consolidated Schedule of Cash Flows

(In millions)

(Unaudited)

TEXTRON INC.

Non-GAAP Financial Measures

We supplement the reporting of our financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial measures.  These non-GAAP financial measures exclude certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations.  We believe that these non-GAAP measures may be useful for period-over-period comparisons of underlying business trends and our ongoing business performance, however, they should be used in conjunction with GAAP measures.  Our non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define similarly named measures differently. We encourage investors to review our financial statements and publicly-filed reports in the entirety and not to rely on any single financial measure.  We utilize the following definitions for the non-GAAP financial measures included in this release:

Adjusted income from continuing operations and adjusted diluted earnings per share

Adjusted income from continuing operations and adjusted diluted earnings per share both exclude Special charges, net of income taxes. We consider items recorded in Special charges, net of income taxes, such as enterprise-wide restructuring and acquisition-related restructuring, integration and transaction costs, to be of a non-recurring nature that is not indicative of ongoing operations.

Manufacturing cash flow before pension contributions

Manufacturing cash flow before pension contributions adjusts net cash from operating activities of continuing operations (GAAP) for the following:

·                  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;

·                  Deducts capital expenditures and includes proceeds from the sale of property, plant and equipment to arrive at the net capital investment required to support ongoing 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 contributions, and may be used as an additional relevant measure of liquidity, it does not necessarily provide the amount available for discretionary expenditures since we have certain non-discretionary obligations that are not deducted from the measure.

Income from Continuing Operations and Diluted Earnings Per Share (EPS) GAAP to Non-GAAP Reconciliation and Outlook:

Manufacturing Cash Flow Before Pension Contributions GAAP to Non-GAAP Outlook: