Wednesday, July 27, 2011

Boeing Co. (NYSE: BA): Q2 2011 Earnings Roundup

Boeing Co. (NYSE: BA) reported Wednesday that its second-quarter profit climbed 20% to $941 million, or $1.25 a share, from $787 million, or $1.06 a share, in the year-earlier quarter. Revenue rose 6% to $16.54 billion from $15.57 billion. Analysts, on average, expected the company to report earnings of 98 cents a share on revenue of $16.47 billion. 

"Strong operational performance drove double-digit margins at both of our major businesses and produced outstanding results in the quarter," said Jim McNerney, Boeing chairman, president and chief executive officer. "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."

Looking ahead to the full year, the company lifted its earnings outlook to between $3.90 and $4.10 a share, from a prior view of $3.80 to $4 a share. 

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