Big things are expected Wednesday from stock in Boeing (NYSE: BA), with the airplane manufacturer reporting third-quarter earnings before the bell Wednesday which topped Wall Street forecasts.
BA raised its full-year 2018 earnings forecast to a range of $14.90 to $15.10, up from its previous guidance of $14.30 to $14.50. Boeing may see its full-year revenue top $100 billion for the first time, as well.
Boeing reported adjusted earnings of $3.58 a share, topping Wall Street expectations by 11 cents according to analysts. Third-quarter revenue came in a $25.15 billion, which was over $1 billion more than analysts' forecast.
To quote Boeing CEO Denis Muilenburg, "This strong underlying performance, along with growth across our businesses we've seen throughout the year, give us confidence to raise our 2018 revenue and earnings guidance and reaffirm our operating cash flow guidance."
Boeing negotiated billions in military contracts this summer, with new programs for the MQ-25 unmanned aircraft system and T-X trainer aircraft, as well as landing a contract to build the MH-139 helicopter.
BA also reported strong operating cash flow of $4.6 billion, that it repurchased seven million shares for $2.5B. Cash and marketable securities of $10 billion provided strong liquidity.
Boeing shares slipped 2.3% over the last three months but the stock is still up 18.7% for the year as of Tuesday's close of $350.05 a share.
Those shares took flight $9.03, or 2.6%, to $358.53 at Wednesday’s open.
