Chicago, IL, United States (4E) – Boeing Co. reported fourth-quarter earnings that beat estimates on the back of strong demand for its jetliners, but the company released a tempered outlook for this year, despite an expected record year for its commercial aircraft production.
Fourth-quarter net income was $1.23bn, or $1.61 per share, a gain from the $978mn or $1.28 a share in the same period a year earlier, according to the Chicago-based company.
Results for the latest quarter include a $0.34 per share charge tied to the settlement of the A-12 litigation, partly offset by gain from a tax regulation change of $0.28 a share.
Total revenues jumped 7 percent to $23.79bn from $22.30bn in the year-earlier quarter and surpassed analysts’ forecast of $22.74bn. Higher revenues reflect higher commercial aircraft deliveries. Operating margin for the quarter fell 0.9 percentage points to 6.4 percent.
Excluded of special items, quarterly core earnings stood at $1.88 a share, from $1.46 a share in the same period in the previous year. Analysts predicted the company to report quarterly per-share earnings of $1.57. Estimates by analysts typically exclude some items.