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Boeing Flying Lower Following Concerning Q4 And Full Year Guidance

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Boeing Flying Lower Following Concerning Q4 And Full Year Guidance

Shares of Boeing Co (NYSE: BA) were trading lower by more than 6 percent early Wednesday morning after the company released its fourth quarter and full year results.

Boeing earned $1.60 per share in the fourth quarter on revenue of $23.6 billion. Wall Street analysts were expecting the company to earn $1.27 per share on revenue of $23.55 billion.

Net earnings for the quarter fell 30 percent from a year ago to $1.026 billion while operating margin fell to 4.9 percent from 8.3 percent a year ago.

Revenue for the full fiscal year rose 6 percent from a year ago to $96.114 billion.

Net earnings for the full fiscal year fell 5 percent from a year ago to $5.446 billion, while operating margin fell to 7.7 percent from 8.2 percent.

Looking forward to fiscal 2016, Boeing expects to earn $8.15 to $8.35 per share on revenue of $93 billion to $95 billion. Wall Street analysts were projecting the company to earn $9.43 per share on revenue of $97.17 billion.

"Our priorities for 2016 and beyond are to build on our existing strengths to deliver on current plans and commitments, and to stretch beyond them by accelerating progress on key enterprise growth and productivity initiatives, investing in our team, and creating more value and opportunity for our customers, shareholders and employees," said Boeing President and Chief Executive Officer Dennis Muilenburg.

Shares traded recently at $120, down 6.2 percent in the pre-market session.

Posted-In: Boeing Boeing Earnings Dennis MuilenburgEarnings News Guidance Movers Best of Benzinga

 

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