Boeing’s third-quarter net income rose 18% year-over-year to $1.36 billion driven by a strong performance by its Commercial Airplanes unit. The net profit was a $200 million improvement over net income of $1.16 billion in the 2013 September quarter.
Boeing Commercial Airplanes’ third-quarter revenue increased 15% year-over-year to $16.11 billion and the unit’s operating profit rose 11% to $1.8 billion, compared to operating income of $1.62 billion in the prior-year period. Boeing delivered 186 commercial aircraft in the third quarter, up 9% from 170 delivered in the 2013 September quarter.
Commercial Airplanes booked 501 net orders during the quarter, bringing backlog to 5,500 aircraft valued at $430 billion.
Through the first nine months of 2014, Boeing delivered 528 commercial aircraft, up 11% year-over-year, driving 13% gains in both Commercial Airplanes’ revenue (to $43.15 billion) and operating profit ($4.85 billion) for the first three quarters of the year. Commercial Airplanes’ operating margin was 11.2% through the first nine months of 2014, the same as 2013’s first three quarters.
Boeing’s overall revenue for the third quarter increased 7% year-over-year to $23.78 billion and operating profit was $2.12 billion, up 18%.