Boeing beats by $0.11, beats on revs; guides FY18 EPS above consensus, increases FY18 revenue guidance (349.61)
- Reports Q3 (Sep) earnings of $3.58 per share, excluding non-recurring items, $0.11 better than the S&P Capital IQ Consensus of $3.47; revenues rose 3.8% year/year to $25.15 bln vs the $23.84 bln S&P Capital IQ Consensus.
- Total company backlog at quarter-end was $491 bln, up from $488 bln at the beginning of the quarter, and included net orders for the quarter of $28 bln.
- Commercial Airplanes booked 171 net orders during the quarter, valued at $13 bln. The 787 program has captured more than 100 orders in 2018 and nearly 1,400 orders since its launch. Co says backlog remains robust with more than 5,800 airplanes valued at $413 bln. Commercial Airplanes revenue guidance is reaffirmed at between $59.5 and $60.5 bln.
- Co issues upside guidance for FY18, sees EPS of $14.90-15.10, excluding non-recurring items, vs. $14.64 S&P Capital IQ Consensus and vs prior guidance of $14.30-14.50; sees FY18 revs of $98-100 bln vs. $98.48 bln S&P Capital IQ Consensus and vs prior guidance of $97-99 bln.
- Co reaffirms 2018 deliveries of 810-815 commercial airplane