Boeing said today that its board of directors approved a 20 percent increase in quarterly earnings to $ 2.055 per share.
The board also increased its mandate to buy back shares from $ 18 billion to $ 20 billion.
The increases reflect Boeing's optimistic outlook as the company prepares to close books in 2018 with a traditional rush at the end of the year. As of November 30, Boeing's commercial aircraft deliveries to the country reached 704, closing last year's record of 763 deliveries. The 11-month net month was 690, compared with 912 last year.
On the space and defense side, Boeing is about to hand over the first KC-46 tanker to the Air Force after years of delay and billions of dollars in cost overruns. This fall, the company has won three huge contracts for military aircraft, and is preparing to put its Starliner space taxi through a critical series of test tests for NASA.
"Boeing continues to see great opportunities in the markets we serve, and we have confidence in the strength of our One Boeing strategy in implementing and winning on all fronts," said Dennis Milinburg, Boeing's Chairman and Chief Executive Officer, in a press release. "Boeing's strong operating performance, financial health and positive outlook support our continued investment in our employees and workplace, innovative products and services, and strategic acquisitions and strategic partnerships that accelerate our growth strategy."
The new earnings will be paid on March 1 to Registered Shareholders as of February 8, 2019.
Boeing said its $ 9 billion worth of shares had been repurchased this year, up from $ 18 billion approved a year ago. Boeing said the stock repurchase campaign had concluded this year. Purchases are expected to resume in January and continue for 24 months. With the timing and volume of repurchases that have been left to the discretion of the Boeing Department.