Exhibit 99.1
 


pressreleaseheadera02.jpg
Boeing Reports Solid Third Quarter; Reaffirms Cash and Raises Revenue and EPS Guidance
Revenue increased to $25.1 billion driven by higher defense and services volume
GAAP EPS of $4.07 and core EPS (non-GAAP)* of $3.58 on solid execution across the company
Strong operating cash flow of $4.6 billion; repurchased 7.0 million shares for $2.5 billion
Total backlog grew to $491 billion, including more than 5,800 commercial airplanes
Cash and marketable securities of $10.0 billion provide strong liquidity
Reaffirmed cash guidance; raised revenue and EPS guidance; updated segment margin guidance
Table 1. Summary Financial Results
 
Third Quarter
 
 
 
Nine Months
 
 
(Dollars in Millions, except per share data)
 
2018
 
2017
 
Change
 
2018
 
2017
 
Change
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 

$25,146

 

$24,223

 
4%
 

$72,786

 

$69,235

 
5%
 
 
 
 
 
 
 
 
 
 
 
 
 
GAAP
 
 
 
 
 
 
 
 
 
 
 
 
Earnings From Operations
 

$2,227

 

$2,630

 
(15)%
 

$7,812

 

$7,366

 
6%
Operating Margin
 
8.9
%
 
10.9
%
 
(2.0) Pts
 
10.7
%
 
10.6
%
 
0.1 Pts
Net Earnings
 

$2,363

 

$1,810

 
31%
 

$7,036

 

$5,138

 
37%
Earnings Per Share
 

$4.07

 

$2.99

 
36%
 

$11.95

 

$8.39

 
42%
Operating Cash Flow
 

$4,559

 

$3,396

 
34%
 

$12,375

 

$10,443

 
19%
Non-GAAP*
 
 
 
 
 
 
 
 
 
 
 
 
Core Operating Earnings
 

$1,890

 

$2,284

 
(17)%
 

$6,793

 

$6,317

 
8%
Core Operating Margin
 
7.5
%
 
9.4
%
 
(1.9) Pts
 
9.3
%
 
9.1
%
 
0.2 Pts
Core Earnings Per Share
 

$3.58

 

$2.62

 
37%
 

$10.55

 

$7.28

 
45%
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 7, “Non-GAAP Measures Disclosures."    
CHICAGO, October 24, 2018 – The Boeing Company [NYSE: BA] reported third-quarter revenue of $25.1 billion driven by higher defense volume and services growth (Table 1). GAAP earnings per share increased to $4.07 and core earnings per share (non-GAAP)* increased to $3.58 primarily driven by strong operating performance at Commercial Airplanes and a tax benefit related to a tax settlement ($0.71 per share). Results also reflect charges related to planned investments in the newly awarded T-X Trainer and MQ-25 programs ($0.93 per share). Boeing delivered strong operating cash flow of $4.6 billion, repurchased $2.5 billion of shares, and paid $1.0 billion of dividends.
The company's revenue guidance increased $1.0 billion to between $98.0 and $100.0 billion, driven by defense volume and services growth, inclusive of the KLX acquisition. Operating cash flow guidance is reaffirmed at $15.0 to $15.5 billion. Full year GAAP earnings per share guidance is increased to between $16.90 and $17.10 from between $16.40 and $16.60 and core earnings per share (non-GAAP)* guidance is increased to between $14.90 and $15.10 from between $14.30 and $14.50 driven by a lower-than-expected tax rate and improved performance at Commercial Airplanes.
"Our teams continued to perform at a high level during the quarter, driving solid operating performance and robust cash generation, and continuing to deliver on our One Boeing advantage by bringing the best of Boeing to our customers,” said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg.

1

The following information was filed by Boeing Co (BA) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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