UPDATE: Boeing (BA) Tops Q1 EPS by 20c; Issues Light FY14 Profit Outlook

(Updated - April 23, 2014 7:35 AM EDT)

Boeing Co. (NYSE: BA) reported Q1 EPS of $1.76, $0.20 better than the analyst estimate of $1.56. Revenue for the quarter came in at $20.47 billion versus the consensus estimate of $20.2 billion.

"Disciplined execution across our production and development programs produced strong first quarter results," said Boeing Chairman and Chief Executive Officer Jim McNerney. "We measurably increased revenue, core operating earnings and cash flow, and expanded core operating margins. This financial and operational strength enabled the return of more than $3 billion to shareholders in the quarter through share repurchase and an increased dividend, even as we continued to invest in our future."

"Our outlook for the full year remains positive on the strength of demand for our fuel-efficient new commercial airplanes, our solid position in global defense, space and security markets, and our enterprise focus on meeting customer commitments, improving productivity and profitably delivering the growth in our sizable backlog," McNerney said.

Total company backlog at quarter-end was a $440 billion, down slightly from the beginning of the year, and included net orders for the quarter of $19 billion.

Boeing sees FY14 revs of $87.5 - $90.5 billion and core EPS of $7.15 - $7.35. The Street sees FY14 revs of $90.09 billion and EPS of $7.38.

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

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• Netflix (NFLX) raised to Buy at Needham & Company on revenue upside
• BCB Bancorp (BCBP) Misses Q1 EPS by 2c