Boeing Co’s profit jumped by more than half in the first quarter, surging past Wall Street forecasts, and strong sales of commercial jets led it to raise its forecasts for cash flow and earnings after a record 2017.After fellow manufacturer Caterpillar Inc unnerved stock markets by warning of rising metals prices on Tuesday, the world’s biggest plane maker said in its quarterly results on Wednesday that margins had improved at the start of 2018.Core earnings, which exclude some pension costs, jumped to $3.64 per share from $2.17 per share a year earlier, dwarfing a consensus forecast of $2.58 per share according to Thomson Reuters I/B/E/S.Shares jumped more than 2 percent in response.“Well it’s not every day that a mega cap company beats consensus by 40 percent.
Boeing Cruises Past Forecasts As Sales Grow, Despite Fears About Rising Metals Prices
Reuters, The Gazette (Cedar Rapids)
Wed, 04/25/2018 - 5:44am
Sections: u.s.
Topics: Iowa Linn County Cedar Rapids
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