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Boeing Reports Increased Earnings On Tax Settlements

By Cal Biesecker

Wednesday, October 26th, 2016

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Boeing Reports Increased Earnings On Tax Settlements

Boeing President and CEO Dennis Muilenburg. Photo: Boeing

Boeing [BA] on Wednesday reported strong third quarter earnings that benefited from favorable tax items despite a decline in sales.Net income soared 34 percent to $2.3 billion, $3.60 earnings per share (EPS), from $1.7 billion ($2.47 EPS) a year ago, with the tax settlements contributing 98 cents EPS. Core per share earnings were $3.51, topping analysts’ predictions of $2.61, due largely to the benefits.Sales in the quarter fell 8 percent to $23.9 billion from $25.8 billion a year ago. Dennis…

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