Boeing’s Backlog Surges As Q4 Results Top Estimates

From StockNews.com: Boeing Co (NYSE:BA) early Wednesday posted better than expected fourth quarter earnings results and offered a solid 2017 outlook, as its backlog of planes and defense equipment continued to swell.

The Seattle-based company reported Q4 EPS of $2.47, which was $0.14 better than the Wall Street consensus estimate of $2.33. Revenues fell 1.2% from last year to $23.29 billion, but also topped analysts’ $23.13 billion view.

Looking ahead, BA forecast adjusted full-year 2017 EPS to range from $9.10 to $9.30, which straddles Wall Street’s $9.27 estimate. 2017 revenues are seen between $90.5 and $92.5 billion, which would be below analysts’ current view of $92.83 billion.

The company commented via press release:

“We led the industry in commercial airplane deliveries for the fifth consecutive year, achieved healthy sales in our defense, space and services segments, and produced record operating cash flow, which fueled investment in innovation and our people and generated significant returns to shareholders.”

“Looking forward, our team is intent on accelerating productivity and program execution to deliver increasing cash and profitability from our large and diverse order backlog of nearly $500 billion, standing up our new integrated services business, and capturing an even greater share of the the growing global aerospace market to deliver superior value to our customers, shareholders and employees.”

Boeing Co shares rose $2.55 (+1.59%) in premarket trading Wednesday. Year-to-date, BA has gained 3.13%, versus a 1.82% rise in the benchmark S&P 500 index during the same period.

BA currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 74 stocks in the Air/Defense Services category.

This article is brought to you courtesy of StockNews.com.

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