BOEING Q2 PROFITS UP 20%

Dino D'Amore
By Dino D'Amore July 28, 2011 10:26

BOEING Q2 PROFITS UP 20%

For the three months to the end of June, Boeing reported a net income increase of almost 20% to $941m against the same period last year, generating $1.25 earnings per share, up from $1.06 per share in 2010. Sales climbed about 6% to $16.5bn.

The company increased its 2011 earnings per share guidance to between $3.90 and $4.10 per share reflecting the strong core performance.  Total company 2011 revenue and cash flow guidance is unchanged.

“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.”

Dino D'Amore
By Dino D'Amore July 28, 2011 10:26
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