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Boeing Q4 earnings top estimates, but guides lower

Published 01/29/2014, 07:41 AM
Boeing shares shed 0.3% in pre-market on weak 2014 outlook
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Investing.com - Global aircraft manufacturer Boeing reported better-than-expected fourth quarter earnings and revenue, it announced ahead of Wednesday’s opening bell.

Boeing said core earnings per share came in at USD1.88 in the fourth quarter, blowing past expectations for earnings per share of USD1.57. The company’s fourth quarter revenue totaled USD23.8 billion, above forecasts for revenue of USD22.71 billion.

Boeing said it expected core 2014 full-year earnings per share to come in at a range between USD7.00 to USD7.20, compared to expectations for earnings of USD7.45 per share.

The firm said 2014 full-year revenue was expected to range from USD87.5 and USD90.5 billion, below forecasts for revenue of USD92.6 billion.

"Strong fourth-quarter results underscored an outstanding full year of core operating performance that drove record revenue and earnings and increased returns to shareholders," said Boeing Chairman and Chief Executive Officer Jim McNerney.

Following the release of the report, shares in Boeing shed 0.3% in pre-market trade.

Meanwhile, the outlook for U.S. equity markets was modestly lower. The Dow Jones Industrial Average futures indicated a loss of 0.25% at the open, S&P 500 futures pointed to a decline of 0.3% and Nasdaq 100 futures indicated a loss of 0.15%.

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