Aerospace company, The Boeing Company(BA) reported a drop in profits for the fourth quarter, but beat analysts estimates on Wednesday.
The Chicago, IL based company reported fourth quarter earnings of $978 million, or $1.28 per share, down from $1.39 billion, or $1.84 per share last year. Analysts expected to see earnings of $1.18 per share.
Revenue came in at $22.3 billion for the quarter, up from $19.56 billion last year. Analysts expected to see revenue of $22.24 billion.
Looking ahead, the company expects to see FY2013 earnings in the range of $5 to $5.20 per share. Analysts are estimating EPS of $5.13. BA is estimating full year revenue to be in the range of $82 billion to $85 billion. Analysts expect to see $88.2 billion in revenue.
Eariler this month, the FAA issued an airworthiness directive which resulted in the temporary suspension in 787 operations. The company reported that they are working with the FAA to fulfill requirements, and to return the aircrafts to operations as soon as possible.
Boeing shares were up 76 cents, or 1.03% during premarket trading Wednesday. The stock has declined -1.2% in the past year.
The Bottom Line
Shares of The Boeing Company(BA) have a 2.63% yield, based on Tuesday’s closing price of $73.65.
The Boeing Company(BA)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.