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 August 28, 2014

News: After F-15 jet crash in Virginia, rescue helicopters search for pilot - Helicopters are searching for an Air National Guard pilot after his F-15 jet crashed in the mountains of Virginia this morning, military officials said.   Business: U.S. Air Force 3DELRR contract expected soon - The U.S. Air Force could award the contract for its...
 
 

News Briefs August 28, 2014

Russian directing new offensive in Ukraine The Obama administration believes Russia is leading a new military counteroffensive in Ukraine. U.S. State Department spokeswoman Jen Psaki says Russia has sent additional columns of tanks and armored vehicles into its neighbor’s territory. She says the incursions suggest a ìRussian-directed counteroffensive is likely underway in the contested e...
 
 
LM-C5

Double Deuce

A U.S. Air Force crew ferried the 22nd C-5M Super Galaxy from the Lockheed Martin facilities in Marietta, Ga., Aug. 25. Aircraft 86-0011 was ferried by a crew led by Maj. Gen. Dwyer L. Dennis, Director, Global Reach Programs, O...
 

 
Northrop Grumman photograph

First ever RQ-4 Global Hawk hits 100th flight on NASA mission

Northrop Grumman photograph A historical look at the first Global Hawk (AV1) during its maiden flight over Edwards Air Force Base, Calif., on Feb. 28, 1998. AV1 has made history again with its 100th flight in support of NASA en...
 
 

Northrop Grumman’s CIRCM system completes U.S. Army flight testing

Northrop Grumman’s Common Infrared Countermeasures system recently completed another round of U.S. Army testing by demonstrating its capabilities on a UH-60M Black Hawk helicopter. The flight test was conducted at Redstone Arsenal in Huntsville, Ala., by the Redstone Test Center. The Northrop Grumman CIRCM system was subjected to rigorous conditions over a six-week period, after...
 
 
NASA photograph by David Olive

NASA completes successful battery of tests on composite cryotank

https://www.youtube.com/embed/qkGI6JeNY0E?enablejsapi=1&rel=0 NASA photograph by David Olive One of the largest composite cryotanks ever built recently completed a battery of tests at NASA’s Marshall Space Flight Cen...
 




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>