US aerospace and defense giant Boeing said Wednesday third-quarter profit soared 12 percent from a year ago and raised its 2013 earnings outlook on a pick-up in commercial aircraft deliveries.
A Boeing 787-9 Dreamliner taxis on the runway before its first flight at Paine Field in Everett, on September 17, 2013
Net earnings totaled $1.16 billion for the July-September quarter, compared with $1.03 billion in the same period in 2012, the Chicago-based company said in a statement.
Revenues rose 11 percent to $22.13 billion, beating analyst expectations of $21.68 billion.
Earnings of $1.51 per share were 12 percent higher than the year-ago EPS of $1.35.
Third-quarter core operating earnings per share, excluding certain expenses, increased 16 percent to $1.80, well above the Wall Street analysts' average estimate of $1.55.
Boeing said the strong across-the-board performance in the quarter led it to raise its 2013 core earnings outlook to between $6.50 and $6.65 per share, from the prior estimate of $6.20 to $6.40.
"Consistently strong operating performance is driving higher earnings, revenue and cash flow as we deliver on our record backlog and return increased value to shareholders," Jim McNerney, Boeing's chairman, president and chief executive, said in the statement.
"Despite the uncertainty of the US defense market, overall our customer-focused business strategies and disciplined execution on our programs are producing the results we expect, and our strong year-to-date performance and positive outlook allow us to increase our 2013 guidance for earnings and operating cash flow."
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