Boeing, North America’s biggest jet manufacturer, continued its upward earnings trend today, beating analyst predictions on earnings per share, and just continuing its overall dominance of the aerospace market. Core (non-GAAP) earnings rose to $2.14 per share, a jump of 19% year-over-year and a handy beat of analysts’ expectations. The company also raised its full-year profit forecast. Here are a few of the big points from the third quarter earnings release.
What you need to know: By just about all measures, the company is doing very well. Not only are earnings up, but revenues are as well, driven largely by an increase in deliveries. Boeing BA -1.16% delivered 186 planes in the third quarter, up from 170 the year before. For the year-to-date, it has delivered 528, up from 476 in 2013 — though it is operating at slightly smaller margins. Boeing is also bringing in more revenue from its space and defense businesses.
The big number: In overall revenue, Boeing is shining. For the first nine months of the year the company brought in $66.3 billion, up 5% from $62.9 billion in the same period last year. The higher deliveries mentioned above are probably the main reason for the increases — when your major business is selling airplanes, selling more of them is going to mean more money. Looking back at deals, it’s easy to see how this business is such a boon. In September, Boeing brought in around $11 billion in a sale with Ryanair, a relatively small Irish budget airline.
What you may have missed: Cash flow is actually down at Boeing, partially due to a big share-buyback program. Free cashflow stood at $317 million for the quarter, down from $2.3 billion in the third quarter of 2013.
No hay comentarios.:
Publicar un comentario