--- title: "Dow 30 Earnings: Boeing Fourth Quarter 2018" description: Dow 30, fourth-quarter earnings, The Boeing Company, revenues came in at $28.3 billion, which was ahead of consensus analyst estimates, represented a year-over-year gain of 14%, and was a record for the Chicago-based corporation. Boeing also eclipsed estimates and achieved a share profit of $5.93 image: https://investor.valueline.com/hubfs/social-suggested-images/iStock-539447858-3.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Highlights](https://investor.valueline.com/blog/topic/stock-highlights) # Dow 30 Earnings: Boeing Fourth Quarter 2018 January 30, 2019 Aerospace and defense giant **The Boeing Company **([BA](https://research.valueline.com/research#sym=BA&list=dow30&sec=company) – [Free Boeing Stock Report](https://research.valueline.com/api/report?documentID=2185-VL_20181207_VLIS_BA_986_01-1847QL5ODVJ61F1FTBMD3JKE05&symbol=BA)) has reported December-period financial results. For the quarter, revenues came in at $28.3 billion, which was well ahead of consensus analyst estimates, represented a year-over-year gain of 14%, and was a record for the Chicago-based corporation. As for the bottom line, Boeing also easily eclipsed estimates and achieved a hefty share profit of $5.93. Management also introduced favorable guidance for 2019. All told, Boeing shares advanced nicely on the news. Looking at the quarter in more detail, the company delivered 238 commercial aircraft, compared to 209 in the year-earlier period. Revenues in the Commercial Airplanes segment expanded 12%, to $17.3 billion, and the operating margin widened 400 basis points, to 15.6%. Better execution, reduced operating expenses, lower R&D expenditures, and the sale of more profitable aircraft all helped margins at this division. During the period, Commercial Airplanes also booked 262 net orders, and its backlog now stands at 5,900 planes valued at $412 billion. The Defense, Space & Security division experienced a 16% top-line increase, which mostly stemmed from greater deliveries of satellites, air tankers, fighter aircraft, and weapons systems to the U.S. military and its allies. Its backlog at quarter end was $57 billion, with 30% representing orders from international customers. All told, Boeing's December quarter was quite remarkable, and management expects the good times to persist throughout 2019. Specifically, its financial guidance calls for the top and bottom lines to reach $109.5 billion-$111.5 billion and $21.90-$22.10 per share, respectively. The midpoints of these respective ranges would result in year-over-year revenue and share-net gains of 9% and 23%. We have raised our near-term estimates. Because of the December outperformance, the company's guidance, and the fact that Boeing's prospects appear excellent, we now expect 2019 revenues and earnings of $112 billion and $22.25 per share, which are slightly higher than management's ranges. Simply put, we expect Boeing to continue to fire on all cylinders, as demand, deliveries, and orders for its products remain robust. As for the stock, as mentioned, it advanced nicely following the quarterly report, and has easily outperformed the broader market over the past couple of years. As such, the equity now appears fully valued in terms of price-to-earnings and many other valuation metrics. We would not blame some current shareholders from taking profits and buying back the stock following any material dips in price. As for investors pondering new commitments, we suggest waiting for a better entry point. **About The Company:**[The Boeing Company ](http://www.valueline.com/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=9325)is a leading manufacturer of commercial jet aircraft. It also produces fighters *(F-15, F/A-18), C-17 cargo carrier, V-22 *helicopter, *E-3 AWACS*, *E-4 command post*, *E-6 submarine *communicator, ground transportation systems, develops the space station, and does work on the *F-22 (ATF).*  - Ian Gendler *At the time of this article’s writing, the author did not have positions in any of the companies mentioned.* [![Register now for our free One Stock to Buy webinar](https://no-cache.hubspot.com/cta/default/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5.png)](https://cta-redirect.hubspot.com/cta/redirect/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5) ### Popular Posts Search Search Blog ### Topics - [Investing 101 (2)](https://investor.valueline.com/blog/topic/investing-101) - [Market Commentary (37)](https://investor.valueline.com/blog/topic/market-commentary) - [Stock Highlights (390)](https://investor.valueline.com/blog/topic/stock-highlights) - [Stock Market Today (2071)](https://investor.valueline.com/blog/topic/stock-market-today) Copyright 2026 Value Line, Inc. All Rights Reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. VALUE LINE IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN OR ANY DAMAGES OR LOSSES ARISING FROM ANY USE OF THE INFORMATION CONTAINED HEREIN. This blog is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. Officers, directors, or employees of Value Line, Inc. and its affiliates and subsidiaries, and EULAV Asset Management, may own stocks that are featured in this email. Nothing herein should be construed as an offer to buy or sell securities or to give individual investment advice. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, “Smart research. Smarter investing.”, The Value Line Investment Survey, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries.