Investing.com – Shares in Boeing surged in premarket trade on Wednesday after the company reported record fourth-quarter revenue and profit that beat analysts' expectations and provided some upbeat guidance for 2019.
The company reported core earnings per share of $5.48, smashing the consensus estimate of $4.57. Revenue came in at $28.34 billion, above estimates for $26.88 billion.
After recording revenue of $101.1 billion in 2018, Boeing forecast that full-year sales for 2019 would be between $109.5 and $111.5 billion driven by higher volume across all of its businesses.
The company further predicted 2019 core EPS to be between $19.90 and $20.10, compared to $16.01 last year.
“Across the enterprise our team delivered strong core operating performance and customer focus, driving record revenues, earnings and cash flow and further extending our global aerospace industry leadership in 2018,” Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg said in the press statement.
At 7:39 AM ET (12:39 GMT), shares in Boeing (NYSE:BA) soared 6.81% to $389.75 in premarket trade.
Boeing follows other major Capital Goods sector earnings this month
On Tuesday, 3M reported fourth-quarter EPS of $2.31 on revenue of $7.95B, compared to forecasts of EPS of $2.28 on revenue of $7.87B.
United Technologies earnings beat analysts' expectations on January 23, with fourth-quarter EPS of $1.95 on revenue of $18.04B. Investing.com analysts expected EPS of $1.55 on revenue of $16.82B
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