Boeing beats by $0.18, beats on revs; guides FY14 EPS in-line, reaffirms FY14 revs guidance (127.12)
Reports Q3 (Sep) earnings of $2.14 per share, excluding non-recurring items, $0.18 better than the Capital IQ Consensus Estimate of $1.96; revenues rose 7.5% year/year to $23.78 bln vs the $23.05 bln consensus. Backlog increased to a record $490 bln from $440 bln last period, and included net orders for the qtr of $73 bln; added net new orders of 501 commercial airplanes During the quarter, co repurchased 8 mln shares for $1 bln, leaving $5.8 bln remaining under the current repurchase authorization expected to be completed over ~the next one to two years. Co issues mixed guidance for FY14, sees EPS of $8.10-8.30 from prior range of $7.90-8.10 vs. $8.08 Capital IQ Consensus Estimate; reaffirms FY14 revs of $87.5-90.5 vs. $89.62 bln Capital IQ Consensus Estimate. Reaffirms commercial airplanes delivery guidance: Revs of $57.5-59.5 bln on 715-725 airplane deliveries; increased operating margin guidance to ~10.5% from >10% Reaffirms Defense, Space & Security segment: Revs of $30-31 bln; reaffirmed operating margin of ~9.5%