Boeing’s profit forecast for the year has been raised on the back of a “strong” first quarter.
The forecast for 2014 core earnings was raised to between $7.15 and $7.35 a share from between $7 and $7.20 per share.
Boeing’s revenues rose 8% to $20.5 billion in the first three months of the year, driven by an increase in commercial aircraft deliveries.
However, the US manufacturer’s net profits fell by 13% to $965 million.
The earnings figure was hit by a $334 million charge due to retirement plan changes in the quarter for moving non-union employees to a defined contribution pension plan.
The company expects more profit in 2014 due to a tax settlement that will take effect in the second quarter.
Boeing left 2014 forecasts for revenue operating cash flow and deliveries unchanged.
Chairman and chief executive Jim McNerney said: “Disciplined execution across our production and development programmes produced strong first quarter results.
“Our outlook for the full year remains positive on the strength of demand for our fuel-efficient new commercial airplanes, our solid position in global defence, space and security markets, and our enterprise focus on meeting customer commitments, improving productivity and profitably delivering the growth in our sizeable backlog.”
The company delivered 161 commercial aircraft in the three months to March 31, a rise of 18% compared with the first quarter last year.
However, the increase was flattered by the fact that Boeing delivered just one 787 Dreamliner in the first three months of last year.
Deliveries were halted after two incidents in which batteries on the new generation aircraft burned, prompting regulators to temporarily ground the global Dreamliner fleet.
Boeing said its backlog of orders remains strong with more than 5,100 commercial aircraft valued at $374 billion.