Boeing reports strong third-quarter results

The Boeing Company reported third-quarter revenue increased 9% to US$25.8bn on record commercial deliveries. Core earnings per share (non-GAAP) for the quarter increased 18% to US$2.52, reflecting strong performance across the company, and GAAP earnings per share was US$2.47. Core earnings per share (non-GAAP) guidance for 2015 increased to between US$7.95 and US$8.15, from US$7.70 and US$7.90 on continued strong operating performance. GAAP earnings per share guidance for 2015 increased to between US$7.65 and US$7.85, from US$7.60 and US$7.80. Operating cash flow guidance increased to approximately US$9.5bn. Revenue guidance increased US$0.5bn to between US$95.0bn and US$97.0bn on higher commercial airplane deliveries. Defense, Space & Security operating margin guidance increased to approximately 10%. Commercial Airplanes third-quarter revenue increased 10% to US$17.7bn on higher delivery volume and mix. Third-quarter operating margin was 10%, reflecting higher R&D and the dilutive impact of higher 787 deliveries partially offset by strong performance on production programs. During the quarter, the company began final assembly and achieved power-on of the first 737 MAX airplane. In total, the 737 program has won nearly 2,900 firm orders for the 737 MAX since launch. Also during the quarter, the company completed firm configuration for the 777X. The 777X program is on schedule for first delivery in 2020. Commercial Airplanes booked 166 net orders during the quarter. Backlog remains strong with nearly 5,700 airplanes valued at $426 billion.