Airplane maker Boeing (BA) posted its fourth-quarter 2018 results before the bell on Wednesday, Jan. 30. Shares jumped in pre-market trade following the announcement of both upbeat top-line and bottom-line results.
Revenues soared 14% to $28.34 billion, generating an 8% hike in quarterly EPS to $5.93 per share. GAAP net earnings inched 3% to $3.42 billion.
CEO Dennis Muilenburg weighed in, “our financial performance provided a firm platform to further invest in new growth businesses, innovation and future franchise programs, as well as in our people and enabling technologies. In the last 5 years, we have invested nearly $35 billion in key strategic areas of our business, all while increasing cash returns to shareholders.”
Commercial Airplanes Deliveries rose 14% to 238 in the quarter. Cash and investments in marketable securities totaled $8.6 billion, and the debt was $13.8 billion at quarter-end.
During the quarter, Boeing delivered 238 Commercial Airplanes, including its first 737 MAX Boeing Business Jet.
OUTLOOK: LOOKING TO 2019
The Boeing Company announced a new outlook for fiscal 2019. Revenue for the year is expected to be $109.5-111.5 billion, generating GAAP earnings of $21.90-22.10 per share. Core earnings per share is touted to be $19.90-20.10. Annual operating cash flow is estimated at $17.0-17.5 billion.
Boeing expects to deliver a record 895-905 commercial airplanes, generating revenues of $64.5-65.5 billion in 2019.