Source: Courtesy Boeing Co.
For the full year, Boeing reported adjusted EPS of $7.07 on revenues of $86.62 billion, compared with 2012 $5.88 EPS on revenues of $81.7 billion. The consensus estimate called for EPS of $6.75 and revenues of $85.41 billion.
Boeing delivered 648 new commercial aircraft in 2013, slightly above its estimated range of 635 to 645 new planes. The full-year operating margin rose by 1.3% to 10.9%. Earnings from commercial aircraft sales rose by 23% on the year and 19% in the quarter.
The company forecast adjusted EPS for 2014 in a range of $7.00 to $7.20 and guided full-year revenues at $87.5 to $90.5 billion. Commercial aircraft deliveries are forecast at 715 to 725. The consensus estimates for 2014 call for EPS of $7.57 on revenues of $92.72 billion. The lower guidance will definitely get noticed in the trading session.
Boeing’s CEO said:
For 2014, we remain focused on maintaining our commercial airplanes market leadership, strengthening and repositioning our defense, space and security business and continuing to meet the needs of our customers by improving productivity, executing to development plans and delivering our unmatched portfolio of innovative aerospace products and services.
The company’s order backlog at the end of the quarter totaled a record $441 billion, up from $415.1 billion at the end of the third quarter. Boeing’s net 2013 orders totaled $135 billion.
Boeing shares were trading down about 3.7% in the premarket session, at $132.00, in a 52-week range of $73.00 to $144.57. The consensus target price for the shares was around $153.70 before this report.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.