Aerospace giant Boeing reported second-quarter earnings before the bell Wednesday which beat Wall Street’s expected results for both the top and bottom lines but fell short of estimates for its full year earnings.
Boeing stuck to its full year 2018 earnings per share guidance of $14.30 to $14.50, below the $14.56 consensus analyst estimate according to Thomson Reuters.
- Earnings: $3.33 per shares vs. $3.26 per share forecast by Thomson Reuters.
- Revenue: $24.3 billion vs. $24.04 billion forecast by Thomson Reuters.
Shares of Boeing slipped more than 2 percent in premarket trading.
The company’s stock is up over 21 percent this year as of Tuesday’s close of $358.27 per share, continuing a climb of nearly 70 percent over the last year.
Boeing is steadily expanding its the range of aircraft it offers. A joint venture with Embraer announced July 5 gave Boeing a controlling stake in the Brazilian planemaker’s commercial aircraft arm. The nearly $5 billion deal is set to make Boeing the market leader in regional passenger jets, even as it moves closer to launching its long-anticipated 797 aircraft.
The U.S. plane builder likely expanded its order book in the second quarter after bringing home nearly $100 billion in deals at the Farnborough International Airshow. Boeing ended the first quarter with a backlog of more than 5,800 airplanes.
