Boeing reports Q3 earnings increase, raises 2014 guidance
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- Daniel McCoy
- Reporter- Wichita Business Journal
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The Boeing Co. on Wednesday reported that core earnings per share in the third quarter increased 19 percent year over year, up to $2.14, as revenues rose 7 percent to $23.8 billion.
As a result, Boeing (NYSE: BA) increased its 2014 guidance to between $8.10 and $8.30 per share, up from $7.90 to $8.10.
The boost came from increased commercial deliveries in the third quarter, which were up 9 percent year over year to 186.
The commercial airplanes segment booked 501 orders in the third quarter, adding to a backlog of more than 5,500 planes valued at a record $430 billion.
Spirit AeroSystems Inc. (NYSE: SPR) in Wichita has work on all Boeing commercial programs.
Revenues at Boeing Defense, Space and Security fell 2 percent year over year to $7.9 billion, while the company's defense backlog was valued at $60 billion at the end of the third quarter.
Boeing's full earnings release is available on its website.
Daniel McCoy covers aviation, manufacturing and automotive.
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