Boeing's Stock Gets a Boost From Profit, Sales Beat

Boeing Co.'s stock climbed 1.2% in premarket trade Wednesday, after the aerospace giant beat second-quarter profit and sales expectations, which offset a lowered earnings outlook. Net earnings for the quarter ended June 30 slipped to $1.11 billion, or $1.59 a share, from $1.65 billion, or $2.24 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came in at $1.62, above the FactSet consensus of $1.37. Revenue rose 11% to $24.54 billion, above the FactSet consensus of $24.31 billion, with an 18% jump in commercial airplane sales to $16.88 billion beating expectations of $16.8 billion. For 2015, Boeing cuts its adjusted EPS outlook to a range of $7.70 to $7.90 from $8.20 to $8.40, as its operating margin view was lowered to 9% from $9.5% to 10%. The company affirmed its full-year revenue outlook of $64.5 billion to $65.5 billion. "Overall, our outlook for the second half of the year remains positive," said Chief Executive Dennis Muilenburg. "On the tanker program, we are investing the necessary resources to keep this vitally important program on schedule for our customer." The stock has run up 12% year to date through Tuesday, while the Dow Jones Industrial Average has tacked on 0.5%.