Boeing tops 1Q profit forecasts

SHARE Boeing tops 1Q profit forecasts

CHICAGO — Boeing Co. (BA) on Wednesday reported first-quarter earnings of $1.34 billion.

The Chicago-based company said it had profit of $1.87 per share. Earnings, adjusted for non-recurring costs, came to $1.97 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.

The airplane builder posted revenue of $22.15 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $22.63 billion.

Boeing expects full-year earnings in the range of $8.20 to $8.40 per share, with revenue in the range of $94.5 billion to $96.5 billion.

Boeing shares have increased 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 2 percent. The stock has increased 20 percent in the last 12 months.

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