Boeing reports Q3 earnings increase, raises 2014 guidance

Enlarge Photo

Kentaro IEMOTO photo - Wikimedia Commons

Streams of 737 fuselages from Spirit AeroSystems stream into Boeing's Washington plant. Spirit is a supplier on all Boeing commercial programs.

Related Slideshow Spirit AeroSystems to Boeing: The 737 fuselage

Daniel McCoy

Reporter- Wichita Business Journal

Email  |  Twitter  |  LinkedIn  |  Google+

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.