The Boeing Co. reported today that its net income rose 12 percent in the third quarter as deliveries of commercial planes continue to accelerate. The company raised its profit guidance for the full year and is boosting production of the 787 amid strong demand for the technologically-advanced plane. Boeing shares are up more than +3% in premarket trading.
Boeing earned $1.16 billion, or $1.51 per share, for the quarter. That was up from about $1 billion, or $1.35 per share, a year earlier. Not counting pension expenses, Boeing would have earned $1.80 per share. Analysts were expecting $1.55 per share.
Revenue rose 11 percent to $22.13 billion, beating analyst expectations.
Boeing now says it expects adjusted earnings for the year of $6.50 to $6.65 per share. Analysts had been expecting $6.52. Revenue is projected at $83 billion to $86 billion, with analysts currently forecasting $84.9 billion.
The Boeing Co. (BA) is up +62.43% year-to-date.