The shares of Boeing Co (NYSE:BA) rose in excess of 5 percent after the aircraft manufacturer announced its fourth quarter 2014 financial results. The jet manufacturer reported 23 percent increase in its core profit during its recent quarter primarily because of record deliveries during the quarter and right timing of receipts.
In addition to its high profit margins at the end of the quarter, the company announced promising cash flow outlook for fiscal 2015. Boeing Co (NYSE:BA) announced operating cash flow of $9 billion and higher in 2015 over a revenue of $94.5 billion to $96.5 billion. The airplane manufacturer released an equally promising delivery number for 2015 and the company expects to deliver between 750 and 755 jetliners in the year. It is important to consider that the company made 723 deliveries in 2014.
Jim McNerney, CEO and chairman of Boeing Co, said,
“Strong operating performance in the final quarter of 2014 propelled us to some of our best-ever results and sealed a fifth consecutive year of core operating earnings growth. By responding to strong demand with market-leading and proven products and capabilities, and delivering them more efficiently, we are strengthening a powerful business platform that is providing increased returns for our shareholders.”
Boeing Co (NYSE:BA) announced net revenues of $24.46 billion in the fourth quarter 2014 along with non-GAAP core operating earnings of $2.34 billion and core operating margin of 9.6 percent. In addition to it, the jet maker announced core EPS guidance of $8.20 to $8.40 for fiscal 2015.
Another exciting news for Boeing came from Pentagon, which announced that 747-8 jumbo jet from the company would replace the presidential Air Force One jet plane. These jets from Boeing Co (NYSE:BA) come with a list price of $368 million and can carry up to 467 passengers. Pentagon said that it would need some upgrades and modifications including antimissile devices for the jet.
This article has been written by Prakash Pandey.