US aerospace giant Boeing on Wednesday (Oct 22) reported higher quarterly earnings and raised its full-year profit forecast for the second quarter in a row on increased commercial aircraft deliveries. Earnings for the third quarter came in at US$1.36 billion, up 17.6 per cent from the year-ago period.
Key drivers included a jump to 186 commercial aircraft deliveries, up from 170 in the 2013 period. Boeing booked 501 net orders during the quarter, with Irish carrier Ryanair signing a deal for 100 Boeing 737 airplanes.
In its government-oriented defence, space and security segment, Boeing scored higher profits in its military aircraft unit, in part due to increased deliveries of the P-8 vehicle developed for the US Navy. But revenues fell in the government satellite and global services businesses.
Boeing raised its full-year profit forecast to US$8.10-US$8.30 per share "core" earnings from the prior range of US$7.90-US$8.10.
"With three solid quarters behind us and confidence in our ongoing performance, we are increasing our earnings per share outlook for 2014," said chief executive Jim McNerney.
The third-quarter results translated core profits of US$2.14 per share, much above the US$1.98 forecast by analysts. Revenues rose 7.5 per cent to US$23.78 billion, more than the US$23.02 billion projected by analysts. Boeing shares dipped 0.1 per cent to US$127 in pre-market trade.
SOURCE
No comments:
Post a Comment