Boeing (BA) Tops Q3 EPS by 16c; Boosts FY14 EPS Outlook

Boeing (NYSE: BA) reported Q3 EPS of $2.14, $0.16 better than the analyst estimate of $1.98. Revenue for the quarter came in at $23.78 billion versus the consensus estimate of $23.02 billion.

"Continued strong operating performance across our production and services businesses drove significant growth in earnings-per-share, and enabled us to continue to capture new business, pushing our order backlog to a record $490 billion," said Boeing Chairman and CEO Jim McNerney. "We added net new orders for 501 commercial airplanes, launched the high-capacity 737 MAX 200, captured a NASA contract for the Commercial Crew program, and returned $1.5 billion to shareholders through dividends and share repurchases."

"With three solid quarters behind us and confidence in our ongoing performance, we are increasing our earnings per share outlook for 2014, as our team remains focused on providing value to our customers and shareholders, profitably ramping up airplane production, executing on our development programs, and driving productivity and affordability throughout the enterprise," McNerney said.

Total company backlog at quarter-end was a record $490 billion, up from $440 billion at the beginning of the quarter, and included net orders for the quarter of $73 billion.

Boeing sees FY2014 EPS of $8.10 - $8.30, versus the consensus of $8.28. The company previously expected FY14 EPS of $7.90 - $8.10.

For earnings history and earnings-related data on Boeing (BA) click here.

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