Why Boeing (BA) Stock Is Up Today

NEW YORK (TheStreet) -- Boeing  (BA) rose Wednesday after the world's largest plane manufacturer reported first-quarter earnings that surpassed analysts' expectations and increased its fiscal year guidance.

Boeing's adjusted net profit rose to $1.76 a share from $1.73 a share in the same period one year earlier, but the increase totaled 14% after the exclusion of a one-time gain of 19 cents a share for a research and development tax credit booked in 2013. This handily beat the expectation of $1.56 a share from analysts polled by Thomson Reuters I/B/E/S.

Non-adjusted profit declined 13% year over year to $965 million, or $1.28 a share, from $1.11 billion, or $1.44 a share. Revenue rose 8% year over year to $20.47 billion from $18.89 billion.

Commercial airplane deliveries rose 18% to 161 from 137 thanks to an increase in production rates for the company's best-selling 737 jetliner and 787 Dreamliner. This figure also beat some analysts' expectations. 

Boeing increased its core earnings forecast to a range of $7.15 a share to $7.35 a share, up from its previous forecast of $7.00 a share to $7.20 a share.

The stock was up 2.11% to $130.24 at 9:56 a.m. on Wednesday.

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Separately, TheStreet Ratings team rates BOEING CO as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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