Boeing reports record 2017 results

Boeing has reported fourth-quarter revenue of US$25.4bn with GAAP earnings per share of US$5.18 and core earnings per share (non-GAAP) of US$4.80 reflecting record deliveries and strong performance, as well as favorable tax reform of US$1.74 per share. Revenue was US$93.4bn for the full year reflecting deliveries mix with GAAP earnings per share of US$13.43 and core earnings per share (non-GAAP) of US$12.04 reflecting strong execution and favorable tax reform.
Operating cash flow in the quarter of US$2.9bn was driven by strong operating performance. During the quarter, the company repurchased 6.7 million shares for US$1.7bn and paid US$0.8bn in dividends. For the full year, the company repurchased 46.1 million shares for US$9.2bn and paid US$3.4bn in dividends.
Commercial Airplanes fourth-quarter revenue increased to US$15.5bn on higher planned delivery volume and mix. Fourth-quarter operating margin increased to 11.5%, reflecting strong execution. During the quarter, Commercial Airplanes delivered a record 209 airplanes and the 787 program rolled out the first 787-10 airplane expected to deliver to launch customer Singapore Airlines. The 737 program delivered 44 MAX airplanes during the quarter and has captured over 4,300 orders since launch for the 737 MAX, including a recent order from flydubai for 175 airplanes. Development on the 777X is on track as production began on the first 777X flight test airplane this quarter. Commercial Airplanes booked 414 net orders during the quarter. Backlog remains robust with over 5,800 airplanes valued at US$421bn.