Boeing Co. said its normalized net income for the fourth quarter amounted to $2.17 per share, compared with the S&P Capital IQ consensus estimate of $2.33 per share.

EPS climbed 86.8% year over year from $1.16.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.37 billion, an increase of 72.8% from $791.9 million in the year-earlier period.

The normalized profit margin climbed to 5.9% from 3.4% in the year-earlier period.

Total revenue declined on an annual basis to $23.29 billion from $23.57 billion, and total operating expenses fell 5.7% year over year to $21.19 billion from $22.48 billion.

Reported net income rose 58.7% on an annual basis to $1.63 billion, or $2.59 per share, from $1.03 billion, or $1.51 per share.

For the year, the company's normalized net income totaled $6.71 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $7.11.

EPS rose from $6.59 in the prior year.

Normalized net income was $4.31 billion, a decrease from $4.58 billion in the prior year.

Full-year total revenue declined year over year to $94.57 billion from $96.11 billion, and total operating expenses decreased year over year to $87.80 billion from $88.94 billion.

The company said reported net income fell on an annual basis to $4.89 billion, or $7.61 per share, in the full year, from $5.17 billion, or $7.44 per share.