Boeing Boosts Full-Year Guidance
April 25 2018 - 8:30AM
Dow Jones News
By Doug Cameron
Boeing Co. on Wednesday boosted key financial guidance for 2018,
in a sign the aerospace company isn't being affected by
supply-chain issues and broader concerns over the impact of
shifting global trade policies.
The company raised its full-year profit guidance and the closely
watched cash flow metric that has helped drive its stock price over
the past 18 months as it boosted share buybacks and dividends.
Boeing reported forecast-beating quarterly profits and didn't
book any charges on a key military program, with its defense and
services units contributing to the rise in earnings. Its shares
rose more than 2% in premarket trade.
Boeing said its profit rose to $2.48 billion in the quarter from
$1.58 billion a year earlier, with per-share earnings up to $4.15
from $2.54. Stripping out pension costs, profit of $3.64 a share
was well ahead of the $2.58 analyst consensus.
Boeing boosted its guidance for full-year profit by 50 cents a
share to a range of $14.30 to $14.50, and added $500 million to its
forecast for operating cash flow, with a new top end of $15.5
billion.
The company has boosted capital spending plans in the wake of
the U.S. tax overhaul, investing some of the windfall in
productivity gains that have translated into higher margins at its
jetliner business.
Write to Doug Cameron at doug.cameron@wsj.com
(END) Dow Jones Newswires
April 25, 2018 08:15 ET (12:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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