Boeing Co. (NYSE: BA) reported fourth-quarter and full-year 2013 results before markets opened Wednesday. For the quarter, the aerospace company posted adjusted diluted earnings per share (EPS) of $1.88 on revenues of $23.79 billion. In the same period a year ago, the company reported EPS of $1.46 on revenues of $22.3 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.57 and $22.74 billion in revenues.

For the full year, Boeing reported adjusted EPS of $7.07 on revenues of $86.62 billion, compared with 2012 $5.88 EPS on revenues of $81.7 billion. The consensus estimate called for EPS of $6.75 and revenues of $85.41 billion.

Boeing delivered 648 new commercial aircraft in 2013, slightly above its estimated range of 635 to 645 new planes. The full-year operating margin rose by 1.3% to 10.9%. Earnings from commercial aircraft sales rose by 23% on the year and 19% in the quarter.

The company forecast adjusted EPS for 2014 in a range of $7.00 to $7.20 and guided full-year revenues at $87.5 to $90.5 billion. Commercial aircraft deliveries are forecast at 715 to 725. The consensus estimates for 2014 call for EPS of $7.57 on revenues of $92.72 billion. The lower guidance will definitely get noticed in the trading session.

Boeing’s CEO said:

For 2014, we remain focused on maintaining our commercial airplanes market leadership, strengthening and repositioning our defense, space and security business and continuing to meet the needs of our customers by improving productivity, executing to development plans and delivering our unmatched portfolio of innovative aerospace products and services.

The company’s order backlog at the end of the quarter totaled a record $441 billion, up from $415.1 billion at the end of the third quarter. Boeing’s net 2013 orders totaled $135 billion.

Boeing shares were trading down about 3.7% in the premarket session, at $132.00, in a 52-week range of $73.00 to $144.57. The consensus target price for the shares was around $153.70 before this report.

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