FILE - In this July 24, 2017 file photo, the Boeing logo appears above a trading post on the floor of the New York Stock Exchange. Boeing Co. on Wednesday, Jan. 31, 2018, reported fourth-quarter profit of $3.13 billion. The Chicago-based company said it had net income of $5.18 per share. Earnings, adjusted for pretax gains, came to $4.80 per share.(AP Photo/Richard Drew)

Boeing profit tops expectations; gives strong 2018 outlook

January 31, 2018 - 8:13 am

CHICAGO (AP) — Boeing's fourth-quarter profit easily topped Wall Street's view, buoyed by strong deliveries and recent tax reform legislation. The aircraft company also released a better-than-expected 2018 outlook.

Shares climbed more than 4 percent in Wednesday premarket trading.

For the period ended Dec. 31, the Boeing Co. earned $3.13 billion, or $5.18 per share. A year earlier it earned $1.63 billion, or $2.59 per share.

The company said that tax reform added $1.74 per share to earnings.

Stripping out certain items, earnings were $4.80 per share. That's significantly higher than the $2.91 per share that analysts surveyed by Zacks Investment Research were calling for.

Revenue increased to $25.37 billion from $23.29 billion, beating the $24.83 billion in revenue Zacks' analysts forecast.

Commercial airplane deliveries rose 13 percent to 209 airplanes.

Boeing expects 2018 adjusted earnings between $13.80 and $14 per share and revenue in a range of $96 billion and $98 billion. Analysts polled by FactSet predict earnings of $11.91 per share and revenue of $93.36 billion.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BA at https://www.zacks.com/ap/BA

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