Boeing: raises full-year forecast after strong quarter

(CercleFinance.com) - Boeing reported a 57% jump in quarterly profit and raised its full-year forecasts following strong commercial deliveries and higher defence and services volume, sending its shares up 3% in pre-market trading today.


Firs-quarter income rose to 2.47 billion dollars from 1.58 billion dollars in the same period a year ago, the company said.

The gain came largely from a 9% rise in deliveries to 184 aircraft over the quarter, although Boeing also mentioned strong orders booked in the quarter for defence, services and commercial offerings, including 221 net commercial aircraft orders.

Core earnings, which exclude some pension and post-retirement costs, jumped 68% to 3.64 dollars a share.

Boeing raised its full-year core earnings forecast to between 14.30 dollars and 14.50 dollars a share, vs. a previous range of 13.80 dollars to 14.00 dollars.

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