Boeing beats by $0.20, beats on revs; raises FY14 EPS guidance, in-line, as a result of a tax settlement; backlog at quarter-end was $440 bln
Reports Q1 (Mar) earnings of $1.76 per share, excluding non-recurring items, $0.20 better than the Capital IQ Consensus Estimate of $1.56; revenues rose 8.3% year/year to $20.46 bln vs the $20.21 bln consensus.
- Co raises EPS guidancefor FY14 to reflect a tax settlement , sees EPS of $7.15-7.35, excluding non-recurring items, vs. $7.29 Capital IQ Consensus Estimate, up from $7.00-7.20
- Total co backlog at quarter-end was a $440 billion, down slightly from the beginning of the year, and included net orders for the quarter of $19 billion
- "Our outlook for the full year remains positive on the strength of demand for our fuel-efficient new commercial airplanes, our solid position in global defense, space and security markets, and our enterprise focus on meeting customer commitments, improving productivity and profitably delivering the growth in our sizable backlog," McNerney said