Wednesday, April 27, 2011

Boeing Co. (NYSE: BA): Q1 2011 Earnings Roundup

Boeing Co. (NYSE: BA) reported Wednesday that its first-quarter rose to $0.59 billion, or 78 cents per share, from $0.52 billion or 70 cents per share, in the year-earlier quarter. Reenue declined to $14.91 billion from $15.22 billion in the comparable period a year ago. Analysts, on average, expected the company to report earnings of 72 cents per share on revenue of $15.13 billion. 

"We're off to a good start in an important year for our company," said Jim McNerney, Boeing chairman, president and chief executive officer. "We delivered strong operating performance, made significant progress on 787 and 747-8 flight testing, and scored a major win on the U.S. Air Force Tanker program. Our outlook remains positive, and our people are focused on meeting customer commitments, driving productivity and competitiveness gains, and capturing growth opportunities in our Commercial Airplanes and Defense, Space & Security businesses."

Looking ahead, the company reaffirmed its 2011 GAAP earnings per share view of $3.80 to $4.00 and revenue forecast of $68 billion to $71 billion.

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