Boeing Shares Surge After Earnings Beat; Raises Full-Year Guidance By Investing.com

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Boeing Shares Surge After Earnings Beat; Raises Full-Year Guidance

Published Oct 24, 2018 07:56AM ET

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Boeing Shares Surge After Earnings Beat; Raises Full-Year Guidance

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Investing.com - Boeing (NYSE:BA) shares surged on Wednesday, after reporting strong third-quarter earnings.

The aerospace giant reported adjusted earnings per share of $3.58 on revenue of $25.15B on the back of a robust defense business and more efficient commercial aircraft production.

Analysts polled by Investing.com expected EPS of $3.53 on revenue of $24.28B.

Boeing raised its full year 2018 earnings forecast to a range of $14.90 to $15.10, up from its previous guidance of $14.30 to $14.50. Boeing may see its full year revenue top $100 billion for the first time, as well.

"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," Boeing CEO Dennis Muilenburg said in a statement.

Boeing shares gained 4.27% to trade at $365.00 following the report.

For the year, Boeing shares are up 18.36%, outperforming the Dow 30 which is up 1.54% year to date.

Boeing follows other major Capital Goods sector earnings this month

On Tuesday, 3M (NYSE:MMM) reported third quarter EPS of $2.58 on revenue of $8.15B, compared to forecasts of EPS of $2.72 on revenue of $8.45B.

Honeywell (NYSE:HON) earnings beat analyst's expectations on Friday, with third quarter EPS of $2.03 on revenue of $10.76B. Investing.com analysts expected EPS of $1.99 on revenue of $10.75B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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Boeing Shares Surge After Earnings Beat; Raises Full-Year Guidance

Boeing follows other major Capital Goods sector earnings this month

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