NEW YORK (CNN/Money) - Boeing Co. flew well over second-quarter earnings estimates Wednesday as it nearly reached the year-earlier profit level, and the company reaffirmed its 2002 and 2003 earnings guidance.

The world's largest aircraft manufacturer earned $751 million, or 92 cents a share, excluding special items. While that's down from the $804 million, or 95 cents a share, it earned a year earlier it's much better than the 80 cents a share forecast of analysts surveyed by earnings tracker First Call.

Sales fell to $13.86 billion from $15.37 billion, just missing First Call's revenue forecast of $13.93 billion.

The company said it is on target to meet its earnings and sales forecasts for this year and next, saying it should be able to deliver 380 commercial airplanes in 2002 and between 275 and 300 next year. It did not spell out earnings per share guidance for the periods. Analysts expect EPS of $3.05 this year and $2.82 in 2003, down from $3.63 a share in 2001.

Shares of Boeing (BA: Research, Estimates), one of seven components of the Dow Jones industrial average set to report results Wednesday, gained $1.11, or 2.8 percent, to close Tuesday at $40.87.