Boeing Reports Record 2018 Results and Provides 2019 Guidance

CHICAGO, Jan. 30, 2019 — (PRNewswire) —  

Fourth Quarter 2018

  • Record revenue of $28.3 billion and record operating profit of $4.2 billion driven by higher volume
  • Record GAAP EPS of $5.93 and record core EPS (non-GAAP)* of $5.48 on strong performance

Full-Year 2018

  • Record revenue of $101.1 billion reflecting strong growth across the portfolio
  • Record GAAP EPS of $17.85 and record core EPS (non-GAAP)* of $16.01 driven by solid execution
  • Record operating cash flow of $15.3 billion; repurchased 26.1 million shares for $9.0 billion
  • Total backlog remains robust at $490 billion, including nearly 5,900 commercial airplanes
  • Cash and marketable securities of $8.6 billion provide strong liquidity

Outlook for 2019

  • Revenue guidance of between $109.5 and $111.5 billion reflects higher volume across all businesses
  • GAAP EPS of between $21.90 and $22.10; core EPS (non-GAAP)* of between $19.90 and $20.10
  • Operating cash flow expected to increase to between $17.0 and $17.5 billion

 













Table 1. Summary Financial Results

Fourth Quarter




Full Year



(Dollars in Millions, except per share data)

2018


2017


Change


2018


2017


Change













Revenues

$28,341


$24,770


14%


$101,127


$94,005


8%













GAAP












Earnings From Operations

$4,175


$2,978


40%


$11,987


$10,344


16%

Operating Margin

14.7%


12.0%


2.7 Pts


11.9%


11.0%


0.9 Pts

Net Earnings

$3,424


$3,320


3%


$10,460


$8,458


24%

Earnings Per Share

$5.93


$5.49


8%


$17.85


$13.85


29%

Operating Cash Flow

$2,947


$2,903


2%


$15,322


$13,346


15%

Non-GAAP*












Core Operating Earnings

$3,867


$2,589


49%


$10,660


$8,906


20%

Core Operating Margin

13.6%


10.5%


3.1 Pts


10.5%


9.5%


1.0 Pts

Core Earnings Per Share

$5.48


$5.07


8%


$16.01


$12.33


30%


*Non-GAAP measure; complete definitions of Boeing's non-GAAP measures are on page 6, "Non-GAAP Measures Disclosures."     


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