21-Oct-2010 11:19 AM
Boeing reports strong 3Q2010 results, upgrades 2010 forecast
Boeing revenue up 2% - financial highlights for the three months ended 30-Sep-2010:
- Revenue: USD16,967 million, +2% year-on-year;
- Commercial Airplanes: USD8,749 million, +11%;
- Boeing Capital Corp: USD170 million, +2%;
- Operating profit: USD1,387 million, compared to a loss of USD2,151 million in p-c-p;
- Commercial Airplanes*: USD1,017 million, compared to a loss of USD2,837 million in p-c-p;
- Boeing Capital Corp: USD45 million, +15%;
- Net profit: USD837 million, compared to a loss of USD1,564 million in p-c-p;
- Operating cash flow: USD1,855 million, +55%;
- Total assets: USD65,222 million, +5.1% when compared to period ended 31-Dec-2009;
- Cash and cash equivalents: USD2,864 million, -68.9% when compared to period ended 31-Dec-2009;
- Total liabilities: USD60,670 million, +1.4%;
- Total consolidated debt: USD12,400 million, -3.9% when compared to period ended 30-Jun-2010;
- Aircraft deliveries:
- Commercial Airplanes: 1224, +10%;
- FY2010 forecast:
- Earnings per share: USD3.80 to USD4.00;
- Operating cash flow: More than USD1,500 million;
- Revenue: USD64,500 million to USD65,500 million;
- Commercial Airplanes: USD31,500 million;
- Aircraft deliveries:
- Commercial Airplanes: 460 aircraft. [more]
*3Q2009 results were affected by a USD2,600 million B787 R&D reclassification and a USD1,000 million B747 charge
Boeing: "Our results and revised outlook reflect the continued strong performance of our commercial production and services programs and the ability of our defense businesses to produce solid results in a challenging environment. Orders were particularly encouraging, with a multi-year production contract for 124 F/A-18 aircraft and more than 200 net commercial airplane orders booked in the quarter, increasing our backlog and demonstrating improved overall market confidence," Jim McNerney, Chairman, President and CEO. Source: Boeing, 20-Oct-2010.