Smooth Sailing for Boeing (BA) in Q2, Outlook Raised
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Price: $231.67 +0.58%
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Total costs and expenses: -19.9B
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SVBT, ZEO, OTLK, More
Financial Fact:
Total costs and expenses: -19.9B
Today's EPS Names:
SVBT, ZEO, OTLK, More
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Boeing Co. (NYSE: BA) delivered better-than-expected second-quarter results early Wednesday and raised its guidance for the year due to strong results in the core businesses.
The aircraft giant reported second-quarter earnings rose 18 percent to $1.25 per share, or $0.29 better than the analyst estimate of $0.96.
Revenue for the quarter jumped 6 percent to $16.5 billion versus the consensus estimate of $16.43 billion.
Operating margin rose 0.9 points from 8.4% to 9.3% on strong Commercial Airplanes volume and strong core performance across the company's businesses.
CEO Jim McNerney notes, "strong operational performance drove double-digit margins at both of our major businesses and produced outstanding results in the quarter." Boeing also made progress toward certification and delivery of the 787 Dreamliner and 747-8, which have seen major delays.
In the Commercial Airplanes unit, the company reported deliveries of 118, up 4 percent from last year. The unit posted revenue growth of 19 percent to $8.84 billion and earnings from operation growth of 35 percent to $920 million.
Revenue in the Defense, Space & Security unit fell 4 percent to $7.69 billion but earnings from operations rose 12 percent to $798 million.
Boeing sees 2011 earnings per share of $3.90 to $4.10, which is up from its prior guidance of $3.80 to $4.00 but essentially in-line with the consensus of $4.11. The company sees revenue of $68-$71 billion, in-line with the consensus of $69.37 billion.
Shares of Boeing are up 2 percent to $71.70 in pre-open trade.
The aircraft giant reported second-quarter earnings rose 18 percent to $1.25 per share, or $0.29 better than the analyst estimate of $0.96.
Revenue for the quarter jumped 6 percent to $16.5 billion versus the consensus estimate of $16.43 billion.
Operating margin rose 0.9 points from 8.4% to 9.3% on strong Commercial Airplanes volume and strong core performance across the company's businesses.
CEO Jim McNerney notes, "strong operational performance drove double-digit margins at both of our major businesses and produced outstanding results in the quarter." Boeing also made progress toward certification and delivery of the 787 Dreamliner and 747-8, which have seen major delays.
In the Commercial Airplanes unit, the company reported deliveries of 118, up 4 percent from last year. The unit posted revenue growth of 19 percent to $8.84 billion and earnings from operation growth of 35 percent to $920 million.
Revenue in the Defense, Space & Security unit fell 4 percent to $7.69 billion but earnings from operations rose 12 percent to $798 million.
Boeing sees 2011 earnings per share of $3.90 to $4.10, which is up from its prior guidance of $3.80 to $4.00 but essentially in-line with the consensus of $4.11. The company sees revenue of $68-$71 billion, in-line with the consensus of $69.37 billion.
Shares of Boeing are up 2 percent to $71.70 in pre-open trade.
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