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The
world's biggest maker of jetliners said it expects 2017 core
earnings, which exclude some pension and other costs, of between
$9.10 and $9.30 per share on revenue of $90.5 billion to $92.5
billion.
Boeing forecast operating cash flow of about $10.75 billion in
2017. The company reported record cash flow of $10.5 billion in
2016.
Boeing generated $7.7 billion of operating cash flow at the end
of the third quarter, fueling expectations it would hit its
target of about $10 billion for 2016. But the year-end figure
surpassed analysts' estimates of $10.4 billion, according to
Thomson Reuters I/B/E/S.
Boeing shares were up 1.5 percent at $162.90 in premarket
trading.
Boeing's higher cash target for 2017 suggested it can keep
generating cash by reducing costs while it increases aircraft
deliveries.
Boeing expects to deliver more planes in 2017 despite plans to
cut output of its 777 model by 40 percent this year. Deliveries
of its smaller 737 and 737 MAX models will make up the
difference, producing a revenue decline in 2017.
Core earnings rose to $2.47 per share in the fourth quarter from
$1.60 a year earlier. The increase came despite a $201 million
aftertax charge for Boeing's KC-46A aerial refueling tanker
program for the U.S. Air Force.
Revenue fell 1.2 percent to $23.29 billion in the quarter.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva
and Jeffrey Benkoe)
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