Boeing Reports Record Revenue of $28.3 Billion in 4Q 2018, Posts 16% Revenue Growth in Defense, Space and Security Segment
Chicago, Ill., Jan. 30, 2019 — Boeing Company [NYSE: BA] has reported fourth-quarter revenue of US$ 28.3 billion and GAAP earnings per share of US$ 5.93 on record commercial deliveries, higher defense and services volume, and strong performance. In the company’s Defense, Space & Security segment, fourth-quarter revenue increased to US$ 6.1 billion driven by increased volume across F/A-18, satellites, and weapons. Fourth-quarter operating margin increased to 10.9 percent, primarily reflecting favorable mix.
Boeing said it generated operating cash flow of US$ 2.9 billion, repurchased 1.6 million shares for $0.6 billion, paid US$ 1.0 billion of dividends and completed the acquisition of KLX.
The company said revenue was a record US$ 101.1 billion for the full year reflecting higher commercial deliveries and increased volume across the company. Records for GAAP earnings per share of $17.85 and core earnings per share (non-GAAP) of US$ 16.01 were driven by higher volume, improved mix and solid execution.
"Across the enterprise our team delivered strong core operating performance and customer focus, driving record revenues, earnings and cash flow and further extending our global aerospace industry leadership in 2018," said Boeing chairman, president and CEO Dennis Muilenburg.
"Our financial performance provided a firm platform to further invest in new growth businesses, innovation and future franchise programs, as well as in our people and enabling technologies. In the last 5 years, we have invested nearly US$ 35 billion in key strategic areas of our business, all while increasing cash returns to shareholders."
Boeing said backlog at Defense, Space & Security was US$ 57 billion, of which 30 percent represents orders from customers outside the U.S.
Boeing also announced that effective in the first quarter of 2019, the company said all revenues and costs associated with military derivative aircraft will be reported in the Defense, Space & Security segment.
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