Fourth Quarter 2018
- Record revenue of $28.3 billion and record operating profit of $4.2 billion driven by higher volume
- Record GAAP EPS of $5.93 and record core EPS (non-GAAP)* of $5.48 on strong performance
Full-Year 2018
- Record revenue of $101.1 billion reflecting strong growth across the portfolio
- Record GAAP EPS of $17.85 and record core EPS (non-GAAP)* of $16.01 driven by solid execution
- Record operating cash flow of $15.3 billion; repurchased 26.1 million shares for $9.0 billion
- Total backlog remains robust at $490 billion, including nearly 5,900 commercial airplanes
- Cash and marketable securities of $8.6 billion provide strong liquidity
Outlook for 2019
- Revenue guidance of between $109.5 and $111.5 billion reflects higher volume across all businesses
- GAAP EPS of between $21.90 and $22.10; core EPS (non-GAAP)* of between $19.90 and $20.10
- Operating cash flow expected to increase to between $17.0 and $17.5 billion
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Table 1. Summary Financial Results | Fourth Quarter |
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| Full Year |
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(Dollars in Millions, except per share data) | 2018 |
| 2017 |
| Change |
| 2018 |
| 2017 |
| Change |
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| Revenues | $28,341 |
| $24,770 |
| 14% |
| $101,127 |
| $94,005 |
| 8% |
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| GAAP |
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| Earnings From Operations | $4,175 |
| $2,978 |
| 40% |
| $11,987 |
| $10,344 |
| 16% |
| Operating Margin | 14.7% |
| 12.0% |
| 2.7 Pts |
| 11.9% |
| 11.0% |
| 0.9 Pts |
| Net Earnings | $3,424 |
| $3,320 |
| 3% |
| $10,460 |
| $8,458 |
| 24% |
| Earnings Per Share | $5.93 |
| $5.49 |
| 8% |
| $17.85 |
| $13.85 |
| 29% |
| Operating Cash Flow | $2,947 |
| $2,903 |
| 2% |
| $15,322 |
| $13,346 |
| 15% |
| Non-GAAP* |
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| Core Operating Earnings | $3,867 |
| $2,589 |
| 49% |
| $10,660 |
| $8,906 |
| 20% |
| Core Operating Margin | 13.6% |
| 10.5% |
| 3.1 Pts |
| 10.5% |
| 9.5% |
| 1.0 Pts |
| Core Earnings Per Share | $5.48 |
| $5.07 |
| 8% |
| $16.01 |
| $12.33 |
| 30% |
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| *Non-GAAP measure; complete definitions of Boeing's non-GAAP measures are on page 6, "Non-GAAP Measures Disclosures." |
