Boeing reports strong first-quarter results

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By TESTCustomwebLP TESTCustomwebLP April 22, 2015 19:54

Boeing reports strong first-quarter results

Boeing has reported an 8% increase in first-quarter revenue to $22.1 billion on higher commercial deliveries. Core earnings per share (non-GAAP) increased 12% to $1.97, reflecting strong performance across the company, Boeing said, while GAAP earnings per share was $1.87. The company has reaffirmed its 2015 financial and deliveries guidance.

“With disciplined execution and a sharp focus on productivity, we are meeting increasing customer commitments while profitably growing our business,” said Boeing Chairman and Chief Executive Officer Jim McNerney. “The strong operational and financial performance reinforces our ability to continue providing competitive returns for our shareholders while investing in technology and our people.”

“Our outlook for the full year remains positive as our teams work to efficiently deliver our portfolio of industry-leading aerospace products and services. We are also maximizing the expertise of our talented people across the company to accelerate development program milestones and improve affordability for our customers,” he said.
Commercial Airplanes first-quarter revenue increased 21% to $15.4 billion on higher delivery volume, while first-quarter operating margin was 10.5%, reflecting the dilutive impact of higher 787 deliveries.

During the quarter, Commercial Airplanes booked 110 net orders during the quarter. Backlog remains strong with over 5,700 airplanes valued at $435 billion.

At quarter-end, Boeing Capital’s net portfolio balance was $3.4 billion, down from $3.5 billion at the beginning of the year.

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By TESTCustomwebLP TESTCustomwebLP April 22, 2015 19:54