Business

April 25, 2012

Boeing first quarter earnings, revenue rise on aircraft sales

Boeing says its first-quarter earnings jumped 58 percent on higher revenue from sales of commercial airplanes, helping it overcome slow growth in its defense business.

The company raised its 2012 profit forecast.

Boeing said April 25 that it earned $923 million, or $1.22 per share, compared with $586 million, or 78 cents per share, a year ago. It topped the forecast of analysts, who expected 96 cents per share, according to FactSet.

Revenue rose 30 percent, to $19.38 billion, beating the $18.45 billion forecast by Wall Street.

The gains were driven by strength in sales of commercial airplanes. Many airlines are updating their fleets and ordering more fuel-efficient planes to cope with higher jet fuel prices.

The company delivered 137 commercial aircraft in the first quarter, up from 104 a year earlier. It increased its backlog to $380 billion with more than 300 orders for a new version of its workhorse 737 jetliner, which is expected to be ready in a few years to compete with a plane being developed by European rival Airbus.

Revenue from commercial planes jumped 54 percent, to $10.94 billion, while revenue from defense and space work grew just 8 percent, to $8.23 billion, reflecting tighter government budgets. The backlog of military planes grew 20 percent to $72 billion on orders for F-15 fighter jets and C-17 cargo planes.

Chicago-based Boeing said it expects 2012 net income of $4.15 to $4.35 as it sets aside less money for litigation. In January, it predicted earnings of $4.05 to $4.25 per share for the year. The new range is still below the $4.48 per share that analysts expect. AP

 




All of this week's top headlines to your email every Friday.


 
 

 

Headlines October 22, 2014

News: Northrop challenges 3DELRR contract award - Northrop Grumman has formally issued a protest against the US Air Force’s decision to award its next-generation ground based radar to competitor Raytheon.   Business: Defense firms prefer GOP, but spread campaign cash between political parties - For every campaign contribution from a major arms manufacturer to a Republican candidate...
 
 

News Briefs October 22, 2014

Military converges on scene of Kansas jet crash Military personnel are investigating at the site in southeast Kansas where an Oklahoma Air National Guard fighter jet crashed after a midair collision with another one during a training exercise. The F-16 crashed Oct. 20 in a pasture about three miles northeast of Moline, an Elk County...
 
 
Courtesy photograph

Upgrades ‘new normal’ for armor in uncertain budget environment

Courtesy photograph The current Paladin is severely under-powered and overweight so its speed of cross-country mobility is pretty restricted. The Paladin Integrated Management program is designed to address a number of these we...
 

 

ISR: A critical capability for 21st century warfare

The progressive adaptations and breakthroughs made in the intelligence, surveillance and reconnaissance arena have changed the way wars are fought, and the way commanders think about the battlespace. “Whether we have airmen exploiting full motion video data or serving downrange in the (Central Command) area of responsibility, these individuals make up an enterprise of 30,000...
 
 

Lockheed Martin teams with Roketsan of Turkey on new standoff missile for F-35

Roketsan and Lockheed Martin signed a teaming agreement Oct. 22 for collaboration on the SOM-J, a new generation air-to-surface Standoff Cruise Missile for the F-35 Lightning II. The SOM system is an autonomous, long-range, low-observable, all-weather, precision air-to-surface cruise missile. The SOM-J variant is tailored for internal carriage on the F-35 aircraft. The companies will...
 
 

Army Operating Concept expands definition of combined arms

The Army Operating Concept, published Oct. 7, expands the idea of joint combined-arms operations to include intergovernmental and special operations capabilities, said Gen. Herbert R. McMaster Jr. The new concept includes prevention and shaping operations at the strategic level across domains that include maritime, air, space and cyberspace, he said. It’s a “shift in emphasis,”...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>