The Boeing Company has reported third-quarter revenue of U$25.1 billion driven by higher defense volume and services growth. GAAP earnings per share increased to US$4.07 and core earnings per share (non-GAAP) increased to US$3.58 primarily driven by strong operating performance at Commercial Airplanes and a tax benefit related to a tax settlement. Results also reflect charges related to planned investments in the newly awarded T-X Trainer and MQ-25 programs. Boeing delivered strong operating cash flow of US$4.6 billion, repurchased US$2.5 billion of shares, and paid US$1.0 billion of dividends.
The company’s revenue guidance increased US$1.0 billion to between US$98.0 and US$100.0 billion, driven by defense volume and services growth, inclusive of the KLX acquisition.
Operating cash flow guidance is reaffirmed at US$15.0 to US$15.5 billion. Full year GAAP earnings per share guidance is increased to between US$16.90 and US$17.10 from between US$16.40 and US$16.60 and core earnings per share (non-GAAP) guidance is increased to between US$14.90 and US$15.10 from between US$14.30 and US$14.50 driven by a lower-than-expected tax rate and improved performance at Commercial Airplanes.
