Excluding items, the company said second-quarter earnings totaled $2 billion, or $1.67 a share. Analysts surveyed by Thomson Reuters had estimated $1.58. Revenue rose 9% to $21.8 billion. Analysts had estimated $20.7 billion.
In the same quarter a year earlier, core earnings were $1.8 billion, or $1.48 a share.
In premarket trading an hour and a half before the opening bell, Boeing shares were up $1.71 to $109.50.Boeing increased its full-year core earnings guidance to between $6.20 and $6.40 a share and increased its revenue guidance to between $83 billion and $86 billion. Analysts had been estimating $6.51 a share and revenue of $84.1 billion. "Continued strong core operating performance drove higher earnings, revenue and operating cash flow during the quarter, and we returned significant value to shareholders through share repurchases and increased dividends," said CEO Jim McNerney, in a prepared statement. "We also further strengthened our market-leading position in commercial airplanes with the successful launch of the 787-10 and $40 billion of new orders, while our defense, space and security business delivered improved margins and market share in a tough market. "Overall, our strong first-half performance and positive outlook allows us to raise our 2013 earnings and revenue guidance, " McNerney said. During the quarter, Boeing Commercial Airplanes revenue rose 15% to $13.6 billion on higher delivery volume, while operating margin improved to 10.7%, reflecting lower R&D and the higher deliveries partially offset by the dilutive impact of 787 deliveries. Boeing Defense, Space & Security revenue was flat at $8.2 billion while operating margin rose 0.4 points to 9.5%. Follow @tedreednc -- Written by Ted Reed in Charlotte, N.C. >To contact the writer of this article, click here: Ted Reed
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV