Investing.com - Global aircraft manufacturer Boeing (NYSE:BA) reported better-than-expected second quarter earnings ahead of Wednesday’s opening bell and lowered its full-year outlook.
Boeing said core earnings per share came in at $1.62 in the three months ended June 30, blowing past expectations for core earnings per share of $1.37.
Second quarter 2015 results included the previously announced $536 million after-tax charge ($0.77 per share) on the KC-46 Tanker program reflecting higher estimated costs.
The company’s second quarter revenue totaled $24.5 billion, above forecasts for revenue of $24.31 billion, on record commercial deliveries.
"Record commercial airplane deliveries to customers worldwide drove solid revenue growth, and the strength of our overall portfolio and diligent focus produced significant operating cash flow during the quarter," said Boeing President and Chief Executive Officer Dennis Muilenburg.
"Overall, our outlook for the second half of the year remains positive. On the tanker program, we are investing the necessary resources to keep this vitally important program on schedule for our customer," he added.
Core earnings per share guidance for 2015 has been adjusted to between $7.70 and $7.90 per share, from $8.20 and $8.40, to reflect the impact of the KC-46 Tanker charge.
Boeing affirmed its 2015 full-year revenue to come in at a range between $64.5 billion and $65.5 billion.
Following the release of the report, shares in Boeing rallied 1.11% in pre-market trade to $146.75 from Tuesday's closing price of $145.14.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow futures indicated a loss of 0.3% at the open, the S&P 500 futures pointed to a decline of 0.4%, while Nasdaq 100 futures tumbled 1.2%.