Boeing tops Street 3Q forecasts
Oct. 25, 2017
CHICAGO (AP) — Boeing posted better-than-expected, third-quarter net income of $1.85 billion and raised its outlook for the year.
The Chicago company earned $3.06 per share, or $2.72 when adjusted for one-time gains and charges. That's 7 cents better than industry analysts had predicted, according to a poll by Zacks Investment Research.
Boeing delivered a record 202 commercial airplanes last quarter, pushing revenue to $24.31 billion. That also edged out Wall Street predictions and beat the $23.9 billion for the same period last year.
The aircraft maker's net income fell almost 20 percent from the year ago quarter because it got a sizeable tax break then. Boeing posted earnings of $2.28 billion in the third quarter last year.
Boeing expects full-year earnings in the range of $9.90 to $10.10 per share, a dime better than earlier forecasts.
The Commerce Department also reported Wednesday that orders for commercial aircraft surged more than 30 percent in September, reflecting strength industry-wide.
Shares of Boeing Co. edged higher before the opening bell Wednesday, and are up more than 90 percent in the past 12 months and more than 70 percent this year.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BA at https://www.zacks.com/ap/BA