Boeing Boosts Full-Year Guidance

By Doug Cameron 

Boeing Co. on Wednesday boosted key financial guidance for 2018, in a sign the aerospace company isn't being affected by supply-chain issues and broader concerns over the impact of shifting global trade policies.

The company raised its full-year profit guidance and the closely watched cash flow metric that has helped drive its stock price over the past 18 months as it boosted share buybacks and dividends.

Boeing reported forecast-beating quarterly profits and didn't book any charges on a key military program, with its defense and services units contributing to the rise in earnings. Its shares rose more than 2% in premarket trade.

Boeing said its profit rose to $2.48 billion in the quarter from $1.58 billion a year earlier, with per-share earnings up to $4.15 from $2.54. Stripping out pension costs, profit of $3.64 a share was well ahead of the $2.58 analyst consensus.

Boeing boosted its guidance for full-year profit by 50 cents a share to a range of $14.30 to $14.50, and added $500 million to its forecast for operating cash flow, with a new top end of $15.5 billion.

The company has boosted capital spending plans in the wake of the U.S. tax overhaul, investing some of the windfall in productivity gains that have translated into higher margins at its jetliner business.

Write to Doug Cameron at [e-mail]

(END) Dow Jones Newswires

April 25, 2018 08:15 ET (12:15 GMT)

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