Pension expense hurts Boeing's profit

Pension expenses reduced Boeing Co.'s (BA) third-quarter profit, but its commercial airplanes and defense businesses made more money during the quarter.

For the quarter that ended Sept. 30, Boeing's net income fell 6 percent to $1.03 billion, from $1.1 billion a year ago. The profit amounted to $1.35 per share. It would have been higher by 18 cents per share if not for increased pension expenses.

Analysts surveyed by FactSet were expecting a profit of $1.12 per share.

Revenue rose 13 percent to $20 billion as the pace of commercial airplane deliveries picked up. That matched analyst expectations.

Boeing now expects to earn $4.80 to $4.95 per share this year, up from previous guidance of $4.40 to $4.60 per share. Analysts had been expecting $4.72 per share.