Boeing reported a revised profit of 3.58 USD per share, exceeded analysts expectations with 11 cents. The revenue for the third quarter amounted to 25.15 billion USD, which is 1 billion USD above analysts’ expectations.
Boeing raised its profit forecast for the entire 2018 to 14.90-15.10 USD per share against previous expectations of 14.30-14.50 USD per share. The revenue for the company may exceed 100 billion USD for the first time.
This summer, Boeing has contracted billions of dollars in military equipment. Then the CEO Dennis Muilenburg said that the new contracts are an important part of the future development of the company.
In the aviation segment, Boeing delivered 190 aircraft in the third quarter, with a total of 568 for the year. The business unit did not reach its expectations in the second quarter, but in its latest activity report, the company said that would deliver at least 810 aircraft this year. Boeing continues to increase its production, striving to reach the key target of 52 aircraft per month.
About 35% of the company’s orders come from China, but analysts say there is no cause of concern in the context of the trade war between Washington and Beijing.
Boeing’s shares fell 2.3% in the past three months, but rose 18.7% yoy.