Boeing’s Quarterly Profit Gets Boost from Higher Deliveries

Boeing, the world’s largest maker of passenger jets, has reported a 25% rise in its quarterly profit, helped by an increase in deliveries of commercial aircraft.

The aircraft maker earned $1.70 billion for Q3 of 2015, up from $1.36 billion a year ago.

Revenue rose by about 9% to $25.85 billion, with commercial aircraft deliveries up 7% to 199.

Boeing also raised its 2015 sales and profits guidance.

Revenue will be $95-97 billion, up from the prior estimate of $94.5-96.5 billion. Operating cashflow, Boeing’s preferred performance measure, may be $9.5 billion for the year, up from the $9 billion the company estimated earlier in the year.

Photo AP

Boeing’s shares rose 2.8% to $142.82 in pre-market trading.

The company said deliveries had surged on its backlog of orders. Boeing delivered 126 of its narrow-body, short-haul 737 aircraft in the period, up from 120 a year ago. It made more 737 planes than all other commercial models combined.

Boeing’s commercial backlog stands at $426 billion, while it has $46.2 billion of defense, space and security orders to fulfill.

“By continuing to profitably deliver on our large and diverse backlog, we are driving strong growth in revenue, earnings and cash flow,” said president and CEO Dennis Muilenburg.

“Solid operating performance across our commercial and defense businesses during the quarter also supported our continued investment in innovation and our people, and our commitment to return cash to shareholders.”