Loading...
Loading...
The Boeing Company
BA reported upbeat earnings for the third quarter and lifted its earnings forecast for the year.
The Chicago, Illinois-based company posted a quarterly profit of $1.36 billion, or $1.86 per share, versus a year-ago profit of $1.16 billion, or $1.51 per share. Its core operating earnings surged to $2.14 per share from $1.80 per share.
Its revenue jumped to $23.78 billion. However, analysts were estimating a profit of $1.98 per share on revenue of $23 billion.
Commercial aircraft deliveries increased 9% to 186 jets.
Boeing's revenue at its commercial division rose 15% to $16.11 billion, while operating earnings climbed 11% to $1.8 billion.
The company's revenue at defense, space and security division dropped 1.7% to $7.91 billion, while operating earnings jumped 27% to $856 million.
Total company backlog at quarter-end was $490 billion, compared to $440 billion at the beginning of the quarter.
Boeing now projects full-year earnings of $8.10 to $8.30 per share, versus its earlier forecast of $7.90 to $8.10 per share.
"Continued strong operating performance across our production and services businesses drove significant growth in earnings-per-share, and enabled us to continue to capture new business, pushing our order backlog to a record $490 billion," said Boeing Chairman and CEO Jim McNerney.
Boeing shares rose 0.45% to $127.69 in pre-market trading.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in