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Boeing 3Q Earnings, Revenue Beat Expectations; Quarterly Defense Sales Up 6%

boeing logoBoeing (NYSE: BA) — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported third quarter earnings of $2.52 per share, 30 cents above Wall Street estimates and 38 cents higher than figures for the same period last year.

The company also raised its full-year earnings outlook to the range of $7.95-$8.15 per share from the prior guidance of $7.70-$7.90 per share.

Total profit rose 25.11 percent from the same quarter last year to $1.7 billion.

Overall revenue came in at $25.85 billion for the quarter and exceeded analysts expectations by approximately $1.1 billion and prior year period figures by 8.66 percent on increased commercial aircraft deliveries.

Sales in Boeing’s defense, space and security segment rose 5.52 percent from the prior year period to $8.35 billion and military aircraft sales climbed 14.6 percent year-over-year contract awards from the U.S. Air Force for an F-15 electronic warfare suite and a second from the Navy for 13 P-8A Poseidon aircraft.

India also cleared a plan to purchase 22 Apache and 15 Chinook helicopters for $2.5 billion during the quarter.

Revenue in the segment’s network and space systems business climbed 4.9 percent year-over-year to $2.13 billion on increased volume for NASA’s Commercial Crew program and the space agency also extended the company’s work on CCP during the third quarter.

Global services and support business revenue declined 7.65 percent to $2.18 billion from the same quarter in 2014 on the the timing of E-3 Airborne Early Warning and Control aircraft deliveries.

The defense, space and security segment booked $9 billion in orders during the third quarter and 40 percent of the segment’s backlog is from international orders.

Boeing shares are up 6.85 percent from the start of the year and have risen 11.72 percent in the past 12 months.

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