Wednesday, in the report, Boeing Company (The) (NYSE: BA) also provided guidance for 2017. Shares of Boeing were up in premarket trading today.
Revenue of the fourth quarter dropped 1.2% to $23.3 billion, which surpassed the analysts’ estimates of $23.1 billion. Free cash flow reached $2.23 billion, also beating estimate of $2.02 billion. Adjusted earnings per share of the fourth quarter was $2.47 per share, which was above the expectations of $2.32 per share.
For the full-year 2016, revenue reached $94.6 billion, and operating cash flow was $10.5 billion. The company repurchased 55.1 million shares for $7.0 billion.
Based on the results of 2016, the company provides guidance for 2017. In 2017, the company expected the GAAP EPS to be between $10.25 and $10.45, and non-GAAP EPS to be between $9.10 and $9.30. In addition, operating cash flow is expected to ride to around $10.75 billion, according to the statement. In addition, revenue is expected to be between $90.5 and $92.5 billion.
“Looking forward, our team is intent on accelerating productivity and program execution to deliver increasing cash and profitability from our large and diverse order backlog of nearly $500 billion, standing up our new integrated services business, and capturing an even greater share of the the growing global aerospace market to deliver superior value to our customers, shareholders and employees,” Dennis Muilenburg, the Chairman, President and Chief Executive Officer of Boeing, said in the statement.