Boeing Reports Third-Quarter Results; Raises Cash Flow and EPS Guidance

Global Services third-quarter revenue increased to $3.6 billion, primarily driven by higher commercial parts revenue, partially offset by timing of government services (Table 6). Third-quarter operating margin was 14.2 percent reflecting product and services mix.

During the quarter, Global Services was awarded a contract from the Defense Logistics Agency to supply F/A-18 E/F spare parts, and a contract from the Italian Air Force to provide performance-based logistics services to support the KC-767A tanker aircraft. More than 40 commercial airline customers signed up for our digital navigation applications in the quarter. Additionally, Global Services continues to capture new commercial and government customers through expanded offerings, including those powered by Boeing AnalytX.

Additional Financial Information

                           

Table 7. Additional Financial Information

 

Third Quarter

 

Nine Months

(Dollars in Millions)

 

2017

2016

2017

2016

Revenues

         

Boeing Capital

   

$70

   

$63

   

$234

   

$211

 

Unallocated items, eliminations and other

   

$219

   

($622)

   

$369

   

($345)

 

Earnings from Operations

         

Boeing Capital

   

$23

   

$13

   

$87

   

$36

 

Unallocated pension/postretirement

   

$316

   

$88

   

$954

   

$251

 

Other unallocated items and eliminations

   

($198)

   

($200)

   

($750)

   

($492)

 

Other income, net

   

$45

   

$2

   

$94

   

$41

 

Interest and debt expense

   

($87)

   

($81)

   

($267)

   

($227)

 

Effective tax rate

 

30.0%

 

(3.4)%

 

28.4%

 

5.8%

 

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