Boeing profit tops expectations; gives strong 2018 outlook

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Boeing profit tops expectations; gives strong 2018 outlook
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)

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 .13 billion, or .18 per share. A year earlier it earned .63 billion, or .59 per share.

The company said that tax reform added .74 per share to earnings.

Stripping out certain items, earnings were .80 per share. That’s significantly higher than the .91 per share that analysts surveyed by Zacks Investment Research were calling for.

Revenue increased to .37 billion from .29 billion, beating the .83 billion in revenue Zacks’ analysts forecast.

Commercial airplane deliveries rose 13 percent to 209 airplanes.

Boeing expects 2018 adjusted earnings between .80 and per share and revenue in a range of billion and billion. Analysts polled by FactSet predict earnings of .91 per share and revenue of .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