Boeing’s Billions Boost Per Share Value

The Boeing Company’s [NYSE: BA] third-quarter net earnings increased to $1.1 billion, or $1.44 per share, from $694 million, or $0.89 per share, in the same period last year. Third-quarter revenues increased 12 percent to $16.5 billion while earnings from operations rose to $1.5 billion, yielding a 9.1 percent operating margin. Excluding last year’s charge of $0.22 per share in the period to exit the Connexion business, adjusted earnings per share rose 30 percent. Boeing increased its 2007 guidance for revenue, earnings per share and cash flow due to core business performance and lower corporate costs, and now expects earnings per share this year to be between $5.05 and $5.15. Third-quarter operating cash flow grew to $3.3 billion, reflecting increased operating earnings, continued strong commercial airplane orders, and a decrease in working capital. Free cash flow grew to $2.9 billion after capital expenditures. Cash and investments in marketable securities totaled $12.2 billion at September 30, up 16 percent from $10.5 billion at the end of the second quarter. The company increased its share repurchases, spending $905 million for 9.1 million shares during the quarter, leaving $0.5 billion remaining under the current repurchase authorization—Chicago, Illinois