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.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,