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A Boeing 737 Max gives a display during the opening day of the Farnborough International Airshow in Hampshire. (Photo by Andrew Matthews/PA Images via Getty Images)
Boeing reported third-quarter earnings before the bell Wednesday which topped Wall Street forecasts.
The aerospace giant raised its full year 2018 earnings forecast to a range of $14.90 to $15.10, up from its previous guidance of $14.30 to $14.50. Boeing may see its full year revenue top $100 billion for the first time, as well.
Boeing reported adjusted earnings of $3.58 a share, topping Wall Street expectations by 11 cents according to analysts surveyed by Refinitiv. Third quarter revenue came in a $25.15 billion, which was over $1 billion more than analysts’ forecast.
“This strong underlying performance, along with growth across our businesses we’ve seen throughout the year, give us confidence to raise our 2018 revenue and earnings guidance and reaffirm our operating cash flow guidance,” Boeing CEO Dennis Muilenburg said in a statement.
Boeing landed billions in military contracts this summer, with new programs for the MQ-25 unmanned aircraft system and T-X trainer aircraft, as well as landing a contract to build the MH-139 helicopter.
Boeing shares slipped 2.3 percent over the last three months but the stock is still up 18.7 percent for the year as of Tuesday’s close of $350.05 a share.
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