Shares of Boeing (BA) fell almost 4% over the past week. The aerospace and defense company reported its third quarter results on Wednesday before the market open.
Third Quarter Results
Boeing reported third quarter revenues of $20.0 billion, up 13% on the year. Net income fell 6% to $1.03 billion, or $1.35 per diluted share. Earnings were impacted by a $194 million charge related to higher pensions costs which shaved off $0.18 per share of earnings.
Excluding the increase in pension costs, earnings came in at $1.21 per share, ahead of analysts consensus of $1.12 per share.
New orders worth $24 billion, boosted the order backlog to $378 billion.
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