Boeing posted a bigger-than-expected second-quarter profit as it ramped up deliveries of commercial planes like its 737 and 787. The company also raised its full-year earnings guidance, and its shares rose nearly 2 percent in premarket trading.
Boeing’s net income rose 13 percent to $1.09 billion, or $1.41 per share. During the same period last year it earned $967 million, or $1.27 per share. Revenue rose 9 percent to $21.82 billion. The results include costs from pensions. On that basis, analysts had been expecting a profit of $1.30 per share with revenue of $20.79 billion.
Boeing Co. shares are up about 2% and should open at new 52 week highs this morning.
Boeing raised its full-year profit guidance to $6.20 to $6.40 per share, $0.10 higher than its previous guidance. Once it pays for pension expenses it will earn $5.10 to $5.30 per share. On that basis, analysts are expecting $5.34 per share. The company now expects revenue of $83 billion to $86 billion, which is $1 billion more than previously predicted. Analysts were expecting $84 billion.
Boeing Co (BA) is up +43.03% year-to-date.