The Boeing Company reported second-quarter core earnings per share (non-GAAP) increased 13 percent to $1.67, driven by strong performance across the company's businesses.
Second-quarter core operating earnings (non-GAAP) also increased 13 percent to $2.0 billion from the same period of the prior year. Second-quarter revenue was $21.8 billion; GAAP earnings from operations was $1.7 billion and earnings per share was $1.41. Core earnings per share guidance increased to between $6.20 and $6.40 and GAAP earnings per share guidance increased to between $5.10 and $5.30, reflecting the strong performance.
“Continued strong core operating performance drove higher earnings, revenue and operating cash flow during the quarter, and we returned significant value to shareholders through share repurchases and increased dividends,” said Boeing Chairman, President and CEO Jim McNerney. “We also further strengthened our market-leading position in commercial airplanes with the successful launch of the 787-10 and $40 billion of new orders, while our defense, space and security business delivered improved margins and market share in a tough market.”
The company also increased its revenue guidance to between $83 and $86 billion on higher Defense, Space & Security revenues, and reaffirmed its 2013 operating cash flow outlook.
“Overall, our strong first-half performance and positive outlook allows us to raise our 2013 earnings and revenue guidance,” said McNerney, “and our team remains intensely focused on execution, productivity and quality to meet our customer commitments and further drive growth.”