Boeing Co. | $BA Stock | Aerospace Giant Q3 Results Fly Past Estimates

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Boeing

Boeing Co. (NYSE:BA)

Boeing stock gained 4.7% to change hands at $366.65 in early trading Wednesday after the aerospace giant reported higher than expected fiscal third-quarter results.

The Chicago, IL-based company also raised its 2018 core earnings-per-share and revenue guidance, a move that triggered investor excitement.

Shares of the company have risen 18% this year making it one of the best performing Dow Jones Industrial component.

BA Earnings & Outlook

$BA reported earnings of $2.36 billion, or $4.07 per share, compared with $1.81 billion, or $2.99 per share, in the third quarter of the previous year. Adjusted earnings came in at $1.89 billion, or $3.58 per share during the quarter.

Revenue was $25.15 billion, a rise of 3.8% from $24.22 billion in the year-earlier period. Analyst expected adjusted earnings of $3.47 per share on $23.89 billion revenue, according to data compiled by FactSet.

The number of commercial planes delivered during the quarter was 190, down from 202 in the same period last year.

Looking ahead, Boeing expects full-year core earnings of between $14.90 and $15.10 per share, it previous guidance of $14.30 to $14.50 per share.

The company also forecasts 2018 revenues of between $98 billion and $100 billion, compared with its earlier estimate of $97 billion to $99 billion. It is also expecting to deliver about 810 to 815 commercial planes.

CEO Comments

“Our teams continued to perform at a high level during the quarter, driving solid operating performance and robust cash generation, and continuing to deliver on our One Boeing advantage by bringing the best of Boeing to our customers,” said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg.

“This strong underlying performance, along with growth across our businesses we’ve seen throughout the year, give us confidence to raise our 2018 revenue and earnings guidance and reaffirm our operating cash flow guidance.”

Company Profile

The Boeing Co. is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space and security systems. It operates through the following segments: Commercial Airplanes; Defense, Space and Security; Global Services; and Boeing Capital.

The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide. The Global Services segment provides services to commercial and defense customers.

The Defense, Space and Security segment refers to the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter and combat rotorcraft aircraft and missile systems; global mobility, including tanker, rotorcraft and tilt-rotor aircraft; and airborne surveillance and reconnaissance, including command and control, battle management and airborne anti-submarine aircraft.

The Boeing Capital segment seeks to ensure that Boeing customers have the financing they need to buy and take delivery of their Boeing product and manages overall financing exposure. The company was founded by William Edward Boeing on July 15, 1916 and is headquartered in Chicago, IL. – CNN Money

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