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| Boeing raises its annual profit forecast | Boeing raises its annual profit forecast |
| (34 minutes later) | |
| Boeing has raised its profit forecast for this year and says it has a record backlog of orders. | Boeing has raised its profit forecast for this year and says it has a record backlog of orders. |
| The company expects to make between $8.10 and $8.30 per share, from its previous guidance of between $7.90 and $8.10 per share. | The company expects to make between $8.10 and $8.30 per share, from its previous guidance of between $7.90 and $8.10 per share. |
| Boeing valued its order backlog at a record $490bn at the end of the third quarter, up from $440bn at the start of the quarter. | Boeing valued its order backlog at a record $490bn at the end of the third quarter, up from $440bn at the start of the quarter. |
| In the third quarter it made $1.36bn, up 17.6% on the previous year. | In the third quarter it made $1.36bn, up 17.6% on the previous year. |
| "With three solid quarters behind us and confidence in our ongoing performance, we are increasing our earnings per share outlook for 2014," said Boeing chief executive Jim McNerney. | "With three solid quarters behind us and confidence in our ongoing performance, we are increasing our earnings per share outlook for 2014," said Boeing chief executive Jim McNerney. |
| Boeing booked 501 orders in the third quarter, with 100 of those coming from Ryanair when it signed an order for fuel-efficient 737 MAX 200 aircraft. | Boeing booked 501 orders in the third quarter, with 100 of those coming from Ryanair when it signed an order for fuel-efficient 737 MAX 200 aircraft. |
| Demand for the 737 jet is so strong that Boeing is raising production from 42 per month to 52 per month in 2018. | |
| Margins down | |
| However, the profit margin on commercial jets fell to 11.2% in the third quarter, from 11.6% in the same period in the previous year. | |
| Boeing said the fall was because it delivered more 787 and 747 jets in the quarter, which are less profitable than other aircraft. | |
| Revenue at its military aircraft business rose 3% to $3.5bn, helped by increased deliveries of the P-8 reconnaissance jet. |