Boeing Co. (NYSE:BA) said it expects to return to revenue growth in 2018 as it plans to deliver more commercial aircraft than the previous year.
The planemaker has forecast revenue of US$96bn to US$98bn in 2018, compared to $93bn in 2017, which was down 1% on the prior year.
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The company anticipates it will deliver between 810 and 815 commercial aircraft in 2018, up from a record 763 in 2017.
Operating cash flow is forecast to reach US$15bn in 2018, compared with US$13.34bn in 2017.
Core earnings per share (EPS) is estimated to rise to between US$13.80 and US$14.00 from US$12.04 in 2017.
The consensus forecast for 2018 includes core EPS of US$11.91 and revenues of US$93.4bn.
Fourth quarter beats analysts' estimates
The 2018 guidance was released alongside the group’s 2017 and fourth quarter earnings.
Revenue in the fourth quarter rose to US$25bn from US$23bn the same period a year ago as the company delivered a record 209 commercial planes, up from 185 in 2016.
Core EPS jumped to US$4.8 from US$2.47, boosted by changes to the US tax law.
Analysts had been expecting revenue of US$24.64bn and core EPS of US$2.89.
"Our team remains focused on winning through innovation, driving growth and productivity and extending our position as the world's leading aerospace company," Boeing chief executive Dennis Muilenburg said in a statement.
Boeing booked 414 net orders during the quarter and ended the year with a backlog of 5,864 planes valued at US$421bn.
Shares rose 4.75% to US$353.7 each in US pre-market trade.