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Boeing Q3 profit climbs 22.5% YOY

Boeing Co. said its normalized net income for the third quarter was $2.26 per share, compared with the S&P Capital IQ consensus estimate of $2.19 per share.

EPS rose 30.1% year over year from $1.74.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.55 billion, an increase of 22.5% from $1.27 billion in the prior-year period.

The normalized profit margin increased to 6.0% from 5.3% in the year-earlier period.

Total revenue climbed 8.7% on an annual basis to $25.85 billion from $23.78 billion, and total operating expenses climbed 7.3% from the prior-year period to $23.35 billion from $21.76 billion.

Reported net income increased 25.0% from the prior-year period to $1.70 billion, or $2.47 per share, from $1.36 billion, or $1.86 per share.