Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

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

Published 10/24/2018, 07:56 AM
Updated 10/24/2018, 07:56 AM
© Reuters.

© Reuters.

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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.