This article was originally published on ETFTrends.com.
Industrial stocks and sector-related ETFs rallied Wednesday after Boeing (BA) revealed its best annual revenue on record.
Boeing announced a massive fourth-quarter earnings result of an adjusted $5.48 per share and revenue at $28.3 billion, CNBC reports. The aerospace stalwart also revealed $101.1 billion in annual revenue, breaking above $100 billion for the first time.
Looking ahead, the airplane maker anticipates a strong 2019, projecting earnings of $19.9 to $20.1 per share, compared to Wall Street's expectations of $18.31 per share for the full year 2019 earnings.
BA shares advanced 7.1% on Wednesday. BA makes up 11.4% of ITA's underlying holdings, 9.3% of DIA and 8.8% of XLI.
BA Recovers Most of November/December Losses
While the escalating trade spate between the U.S. and China has weighed on Boeing shares last year, the BA has more or less recovered most of the November and December losses on the heels of several big contract wins.
Chairman and CEO Dennis Muilenburg argued that the company's recent initiatives are beginning to bear fruit after the company invested $35 billion in "key strategic areas" over the past five years. The "One Boeing" initiative has made the company a more cohesive organization, giving it "confidence for continued strong performance, revenue expansion and solid execution across all three businesses," Muilenburg said.
The airplane maker delivered a record 806 aircraft last year, compared to 810 that Boeing anticipated in the third quarter. Additionally, the company expects to continue to break records in 2019 with 895 to 905 deliveries.
"That's double-digit growth," Jefferies analyst Sheila Kahyaoglu told CNBC. "About 100 basis points of improvement across each segment and these are big divisions. So, tons of productivity going through."
For more information on the industrial sector, visit our industrial category.
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