Boeing Co. (BA) Tops Q2 EPS Views; Boosts FY14 EPS Outlook

Boeing Co. (NYSE: BA) reported Q2 EPS of $2.42, $0.44 better than the analyst estimate of $1.98. Revenue for the quarter came in at $22.05 billion versus the consensus estimate of $22.47 billion.

"Strong operating performance across our production programs and services businesses drove revenue and earnings-per-share growth and healthy operating cash flow, which supported $1.5 billion in additional share repurchases in the quarter," said Boeing Chairman and Chief Executive Officer Jim McNerney. "We delivered our first 787-9 and our 8,000th 737, successfully completed a key missile defense intercept test, and delivered our 100th EA-18G Growler to the U.S. Navy."

"While challenges resolving engineering and systems installation issues on our tanker test aircraft are resulting in higher spending to maintain schedule, the issues are well understood and we remain on path to begin flight testing fully provisioned tankers the first part of next year," McNerney said.

"With 783 new commercial airplane orders to date this year and significant contracts in the quarter for military aircraft and satellites, our backlog remains large and diverse. Overall, our strong first-half financial performance, sustained focus on growth and productivity, and positive market outlook support our increased earnings guidance for the year," he said.

Boeing Co. sees FY2014 EPS of $7.90 - $8.10, versus prior guidance of $7.15 - $7.35 and the consensus of $7.67.

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

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