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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fugro NV | EU:FUR | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.02 | 0.09% | 22.80 | 22.72 | 23.08 | 23.08 | 22.70 | 22.98 | 280,837 | 16:40:00 |
By Chelsey Dulaney
Boeing Co. posted stronger-than-expected results for the fourth quarter but gave a weak profit outlook for 2015 amid concerns that tumbling oil prices may hamper demand for its fuel-efficient planes.
The world's largest aerospace company by revenue said it expects to post $8.20 to $8.40 in earnings, below the $8.64 a share projected by analysts polled by Thomson Reuters. Boeing's revenue guidance of $94.5 billion to $96.5 billion, however, topped expectations for $93.25 billion.
The company's free cash flow also rebounded in the quarter to $4.33 billion, versus $742 million a year earlier and $317 million in the third quarter.
Shares rose 4% premarket.
Boeing's results have been buoyed by strong commercial-jet demand in recent quarters, despite geopolitical developments that have slowed air-traffic growth in some regions. The company delivered 195 commercial jets in the fourth quarter, up 13% from a year earlier, led by higher 737 and 787 deliveries.
Boeing and rival Airbus Group NV have built record order books on the promise of improved fuel efficiency. Tumbling oil prices, though, could make airlines defer investment in more fuel-efficient planes.
Boeing is working through a record $430 billion order backlog for commercial jets. That comes as some industry executives and investors have voiced concern about a potential bubble in jetliner demand.
In all, Boeing reported a fourth-quarter profit of $1.47 billion, or $2.02 a share, up from $1.23 billion, or $1.61 a share, a year earlier. Core operating earnings, which exclude items including pension components related to market fluctuations, rose to $2.31 from $1.88.
Revenue improved 2.9% to $24.47 billion.
Analysts polled by Thomson Reuters had expected $2.11 in per-share earnings and $23.93 billion in revenue.
Revenue at Boeing's commercial division climbed 15% to $16.84 billion.
But revenue at the defense, space and security division fell 14% to $7.59 billion. Boeing is restructuring the defense unit to counter military budget pressures and compete for a number of upcoming Pentagon competitions, including a new bomber.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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