Boeing (BA) Tops Q1 EPS by 8c; Raises Outlook
Boeing (NYSE: BA) reported Q1 EPS of $2.01, $0.08 better than the analyst estimate of $1.93. Revenue for the quarter came in at $21 billion versus the consensus estimate of $21.34 billion.
Revenue, margin, and operating cash guidance reaffirmed; EPS guidance increased by $0.10 on tax benefit.
"With a sharp focus on performance and productivity, our team delivered another quarter of solid financial results, including year-over-year earnings growth and strong operating cash flow," said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg. "In turn, we continued to position Boeing for growth with investments in new products and services, innovation, and our people, while again demonstrating our commitment to return significant cash to our shareholders."
"We also achieved major milestones, including the certification of the new 737 MAX 8 and first flight of the 787-10 Dreamliner, and we captured a $3.4 billion contract award for 268 Apache helicopters."
"We remain on track to achieve our full-year revenue, earnings and cash flow targets as our teams deliver on our large and diverse order backlog. As we do so, we're focused on accelerating productivity, quality and safety improvements, strengthening execution on development programs, and capturing new business opportunities."
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