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W. James McNerney

Boeing 1Q Earnings Fly Past Estimates

Boeing's (NYSE:BA) first-quarter earnings slipped 13%, as hefty charges related to its retirement plans for employees overshadowed stronger jet orders.But the aircraft and defense giant beat Wall Street estimates for both the top and bottom lines and hiked its full-year earnings outlook to reflect a tax settlement. Boeing now expects core earnings of $7.15 to $7.35 a share, up from $7 to $7.20.Shares rallied 2.4% to $130.65 in pre-market trading. Boeing is down 6.6% since the start of the year.Boeing reported a quarterly profit of $965 million, or $1.28 a share, compared to $1.11 billion, or $1.44 a share, in the year-ago period. Excluding pension charges and other one-time items, core operating earnings climbed three cents to $1.76.Revenue flew 8.3% higher to $20.47. Analysts projected core earnings of $1.56 a share and revenue of $20.2 billion.Chicago-based Boeing has benefited from relatively strong demand for commercial aircraft, supplying jets to airlines looking to upgrade or exp...

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