27-Jan-2011 11:17 AM

Boeing revenue down 8% for three months ended Dec-2010

Boeing reports (26-Jan-2011) the following financial highlights:

  • Three months ended Dec-2010:
    • Revenue: USD16,550 million, -8% year-on-year;
      • Commercial Airplanes: USD8,184 million, -10.9%;
    • Total costs: USD13,413 million, -7.5%;
    • Earnings from operations: USD1103 milion, -35%;
    • Net income: USD1164 million, -8%;
    • Operating cash flow: USD1116 million, -65%;
    • Commercial aircraft delivered: 116, -5%;
  • 12 months ended Dec-2010:
    • Revenue: USD64,306 million, -5.8%;
      • Commercial Airplanes: USD31,834 million, -6.5%;
    • Total costs: USD51,843 million, -8.3%;
    • Earnings from operations: USD: 4,971 million, +137.2%;
    • Net income: USD3,307 million, +152.1%;
    • Operating cash flow: USD2,952 million, -47%.
    • Commercial aircraft delivered: 462, -4%.
  • FY2011 forecast:
    • Revenue: USD68 billion to USD71 billion;
    • Operating cash flow: More than USD2.5 billion;
    • Boeing Commercial Airplanes:
      • Revenue: USD36 billion to USD38 billion;
      • Deliveries: 485 to 500. [more]

Boeing: “The company’s 2011 financial guidance reflects solid core operating performance, higher pension expense, the recently revised 787 schedule and the current defence contracting environment. Boeing’s 2011 revenue guidance is between USD68 and USD71 billion and reflects the initial 787 and 747-8 deliveries. Earnings guidance for 2011 is established at between USD3.80 and USD4.00 per share. Boeing Capital Corporation expects that its aircraft finance portfolio will continue to reduce in 2011, as new aircraft financing of less than USD0.5 billion is expected to be lower than normal portfolio run-off through customer payments and depreciation,” Source: Company statement, 26-Jan-2011.

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