Boeing Shares Fall On Lowered Than Expected Guidance

Shares of The Boeing Company fell 4% after the company beat fourth-quarter earnings expectations but issued a full-year guidance that was below expectations. The company reported net income of $1.03 billion, or $1.51 per share, down from $1.47 billion, or $2.02 per share, in the year-earlier period. Boeing reported adjusted earnings per share of $1.60, above the FactSet consensus of $1.27 per share. Boeing reported revenue of $23.6 billion, above $24.5 billion in the year-earlier period and above the FactSet consensus of $23.5 billion. The company issued full year 2016 guidance of $8.45 to $8.65 per share and revenue of $93 billion to $95 billion, below the FactSet consensus of $9.41 and $97 billion respectively.