Dow 30 Component Boeing Beats Earnings Estimates & Raises Revenue Guidance
Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.
Boeing reported its fiscal year 2018 quarter three earnings on October 24, 2018, before the market open. Boeing beat estimates that called for $3.513 per share with $3.58 per share. Along with exceeding its earnings estimates, the company reported third-quarter revenue of $25.1 billion that was driven by a higher volume and growth in defense and services. Operating cash flow totaled $4.6 billion for the quarter providing the company with strong liquidity.
Boeing repurchased 7.0 million shares for $2.5 billion and paid $1.0 billion in dividends during Q3.
Backlog has raised to $491 billion and includes over 5,800 commercial airplanes.
Dennis Muilenburg, Boeing Chairman, President and Chief Executive Officer stated, “Our teams continued to perform at a high level during the quarter, driving solid operating performance and robust cash generation, and continuing to deliver on our One Boeing advantage by bringing the best of Boeing to our customers.”
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