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Last Update: 26-Oct-11 11:17 ET
Boeing Tops Third Quarter Expectations
Boeing (BA $65.98 +2.26) reported third quarter earnings of $1.46 per share, $0.35 better than the Capital IQ Consensus Estimate of $1.11.
Revenues rose 4.5% year/year to $17.73 billion versus the $17.69 billion consensus.
For its fiscal year 2011, the company raised earnings guidance to $4.30 to $4.40 versus $4.27 Capital IQ Consensus Estimate; sees fiscla year 2011 revenue of $68 billion to $70 billion versus $68.81 billion Capital IQ Consensus Estimate.
"Strong operational performance drove double-digit margins in both of our major businesses and produced an outstanding quarter," said Boeing chairman, president and chief executive officer, Jim McNerney. "We also strengthened our foundation for accelerated growth by completing development and certification of the 787-8 Dreamliner and 747-8 Freighter, launching the new 737 MAX, and continuing our disciplined ramp up in commercial airplane production rates. Our improved outlook for earnings reflects confidence in our market positions, and our team's relentless focus on productivity and disciplined execution."
Revenues rose 4.5% year/year to $17.73 billion versus the $17.69 billion consensus.
For its fiscal year 2011, the company raised earnings guidance to $4.30 to $4.40 versus $4.27 Capital IQ Consensus Estimate; sees fiscla year 2011 revenue of $68 billion to $70 billion versus $68.81 billion Capital IQ Consensus Estimate.
"Strong operational performance drove double-digit margins in both of our major businesses and produced an outstanding quarter," said Boeing chairman, president and chief executive officer, Jim McNerney. "We also strengthened our foundation for accelerated growth by completing development and certification of the 787-8 Dreamliner and 747-8 Freighter, launching the new 737 MAX, and continuing our disciplined ramp up in commercial airplane production rates. Our improved outlook for earnings reflects confidence in our market positions, and our team's relentless focus on productivity and disciplined execution."
