Textron (TXT) stock plummeted 5.06% in intraday trading on Thursday after the company reported mixed third-quarter results. Despite beating earnings expectations, the industrial conglomerate fell short on revenue, raising concerns among investors about its growth trajectory.

For the third quarter, Textron reported adjusted earnings per share of $1.55, surpassing the analysts' consensus estimate of $1.47. However, the company's revenue of $3.602 billion missed the mark, falling short of the expected $3.704 billion. This revenue miss, despite higher deliveries in the Aviation segment and acceleration of the MV-75 program at Bell, appears to be the primary driver behind the stock's sharp decline.

Adding to investor unease, Textron reiterated its full-year 2025 guidance, maintaining its adjusted earnings per share forecast of $6.00 to $6.20. While this range is in line with the current FactSet estimate of $6.12, some market participants may have been expecting an upward revision given the Q3 earnings beat. The company's decision to maintain its outlook, rather than raise it, could be interpreted as a sign of caution about the future, potentially contributing to the negative market reaction.