28-Jul-2011 11:24 AM

Boeing's 2Q2011 profits beat forecast

Boeing revenue up 6% – financial highlights:

  • Three months ended 30-Jun-2011:
    • Revenue: USD16,543 million, +6% year-on-year;
      • Commercial airplanes: USD8843 million, +19%;
      • Boeing Capital Corp: USD147 million, -9%;
    • Operating profit: USD1534 million, +17%;
      • Commercial airplanes: USD920 million, +35%;
      • Boeing Capital Corp: USD62 million, +13%;
    • Net profit: USD941 million, +20%;
    • Aircraft deliveries:
      • Commercial airplanes: 118, +4%;
  • Six months ended 30-Jun-2011:
    • Revenue: USD31,453 million, +2%;
      • Commercial airplanes: USD15,961 million, +7%;
      • Boeing Capital Corp: USD290 million, -10%;
    • Operating profit: USD2534 million, +2%;
      • Commercial airplanes: USD1429 million, +5%;
      • Boeing Capital Corp: USD114 million, +13%;
    • Net profit: USD1527 million, +17%;
    • Total assets: USD72,119 million, +5.2% when compared to period ended 31-Dec-2010;
    • Cash and cash equivalents: USD5050 million, -5.8% when compared to period ended 31-Dec-2010;
    • Total liabilities: USD67,295 million, +2.4% when compared to period ended 31-Dec-2010;
    • Aircraft deliveries:
      • Commercial airplanes: 222, stable;
    • Contractual backlog: USD308 billion;
      • Commercial airplanes: USD259.9 billion;
  • FY2011 forecast:
    • Revenue: USD68 billion to USD71 billion;
      • Commercial airplanes: USD36 billion to USD38 billion;
      • Boeing Capital Corp: USD500 million;
    • Operating margin:
      • Commercial airplanes: +8.0% to +8.5%;
    • Aircraft deliveries:
      • Commercial airplanes: 485 to 495;
    • Research and development: USD3.7 billion to USD3.9 billion;
    • Capital expenditure: USD2.0 billion. [more]

Boeing: "We also made major progress toward certification and delivery of the 787 Dreamliner and 747-8 and continued our disciplined increases in commercial airplane production rates.  Our outlook for the year has strengthened as our team continues its relentless focus on productivity improvement, cash management and program execution,” Jim McNerney, Chairman, President and CEO. Source: Boeing, 27-Jul-2011.

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