Shares of Boeing Co. rallied 3.6% in premarket trade Wednesday, after the aerospace and defense contractor reported fourth-quarter profit and revenue that beat expectations, and provided a upbeat outlook. Net income for the quarter to Dec. 31 nearly doubled to $3.13 billion, or $5.18 a share, from $1.63 billion, or $2.59 a share, in the same period a year ago. Tax reform added $1.74 to earnings per share. Excluding non-recurring items, adjusted EPS came to $4.80, well above the FactSet consensus of $2.89. Total revenue rose to $25.37 billion from $23.29 billion, beating the FactSet consensus of $24.64 billion, as revenue from its commercial airplanes, defense, space & security and global services businesses all topped expectations. For 2018, Boeing expects adjusted EPS of $13.80 to $14.00, above the FactSet consensus of $11.91, and projects revenue of $96.0 billion to $98.0 billion, which is above expectations of $93.4 billion. The stock has soared 31% over the past three months, while the Dow Jones Industrial Average has climbed 12%.
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