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Boeing reported third-quarter earnings before the bell Wednesday which topped Wall Street forecasts.
The aerospace giant 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.
“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 CEO Dennis Muilenburg said in a statement.
Boeing shares rose 3 percent in premarket trading.
- EPS: $3.58 a share vs. $3.47 a share expected according to Refinitiv.
- Revenue: $25.15 billion vs. $23.97 billion expected according to Refinitiv.
Boeing landed billions in military contracts this summer but investors are counting on the commercial airline division to deliver. The airplane-making business fell short of estimates in the second quarter but Boeing held to its forecast that it would deliver at least 810 airplanes this year.
Boeing shares slipped 2.3 percent over the last three months but the stock is still up 18.7 percent for the year as of Tuesday’s close of $350.05 a share.