TXT reported another strong quarter, with Q3 revenue growth of 12% y-o-y and both businesses contributing to growth. Profitability was higher than we forecast, leading to an upgrade to FY15 EPS; we leave our FY16 forecasts unchanged. The company continues to invest in expansion into Asia Pacific; this combined with progress in the North American business should drive growth in the medium term.
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Steady performance
TXT reported another strong quarter, with Q3 revenue growth of 12% y-o-y and both businesses contributing to growth. Profitability was higher than we forecast, leading to an upgrade to FY15 EPS; we leave our FY16 forecasts unchanged. The company continues to invest in expansion into Asia Pacific; this combined with progress in the North American business should drive growth in the medium term.