Boeing Company (NYSE:BA) shares took flight on Wednesday after surpassing expectations on third-quarter earnings per share and revenue while raising its full-year guidance.
The company said EPS came in at $3.58, topping the consensus of $3.47 and last year's $2.72. Revenue hit $25.1 billion, racing past the $23.986 billion expectation and last year's $24.31 billion.
The company's total backlog rose to $491 billion, including more than 5,800 commercial airplanes valued at $413 billion. The backlog for the defense, space and security business unit was $58 billion, with 31% of those orders coming from customers outside the US.
Boeing's full-year revenue guidance went up $1 billion to between $98 billion to $100 billion. The company also raised its full-year adjusted earnings outlook to a range of $14.90 to $15.10 a share, compared with the prior forecast of $14.30 to $14.50 a share. Boeing, based in Chicago, is the world's biggest plane manufacturer.
Shares jumped nearly 4% to $362.40 in pre-market trade.
Reporting by Rene Pastor, contactable on rene.pastor@proactiveinvestors.com