Tag Archives: N6067E

Boeing reports first quarter GAAP net earnings of $1.3 billion

The Boeing Company (Chicago, Seattle and Charleston) reported first quarter revenue increased 8 percent to $22.1 billion on higher commercial deliveries. Core earnings per share (non-GAAP) increased 12 percent to $1.97, reflecting strong performance across the company, and GAAP earnings per share was $1.87. The Company reaffirmed its 2015 financial and deliveries guidance.

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Boeing 1Q15 Financial Results

Operating cash flow in the quarter was $0.1 billion, reflecting timing of receipts and expenditures, commercial airplane production rates and strong operating performance (Table 2). During the quarter, the company repurchased 17 million shares for $2.5 billion, leaving $9.5 billion remaining under the current repurchase authorization which is expected to be completed over approximately the next two to three years. The company also paid $0.6 billion in dividends in the quarter, reflecting an approximately 25 percent increase in dividends per share compared to the same period of the prior year.

Total company backlog at quarter-end was $495 billion, down from $502 billion at the beginning of the year, and included net orders for the quarter of $15 billion.

Commercial Airplanes Deliveries:

Boeing 1Q Deliveries

Commercial Airplanes first-quarter revenue increased 21 percent to $15.4 billion on higher delivery volume and mix (Table 4). First-quarter operating margin was 10.5 percent, reflecting the dilutive impact of higher 787 deliveries.

During the quarter, Commercial Airplanes captured orders for 52 737 MAX airplanes. The 737 program has won over 2,700 firm orders for the 737 MAX since launch. Also during the quarter, the company opened a new Propulsion Systems facility at Boeing South Carolina that will initially support the 737 MAX and 777X, delivered the first Boeing South Carolina-built 787-9 Dreamliner and received 330-minute ETOPS certification on the 747-8 Intercontinental.

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

Boeing Military Aircraft (BMA) first-quarter revenue was $2.7 billion, reflecting planned timing of deliveries and mix; operating margin was 9.5 percent. During the quarter, BMA was awarded contracts for 43 Apache helicopters.

Network & Space Systems (N&SS) first-quarter revenue was $1.7 billion, reflecting lower satellites and missile defense system program volume partially offset by higher volume on the Commercial Crew program. Operating margin increased to 9.6 percent on strong performance related to our United Launch Alliance joint venture. During the quarter, the first two all-electric Boeing 702SP satellites were launched on a single rocket.

Global Services & Support (GS&S) first-quarter revenue was $2.2 billion, reflecting slightly lower volume in integrated logistics. Operating margin increased to 14.1 percent on strong operating performance and program mix. During the quarter, GS&S was awarded a combat logistics support agreement with the U.S. Defense Logistics Agency.

Top Copyright Photo: Nick Dean/AirlinersGallery.com. Boeing 747-8JK Intercontinental N6067E (msn 38636) taxies at Paine Field near Everett. How long will Boeing continue to build the iconic Boeing 747? Relive the past with our Boeing 747 slide shows below.

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Boeing reports record fourth quarter revenue and earnings

The Boeing Company (Chicago, Seattle and Charleston) reported record fourth-quarter revenue of $24.5 billion on higher deliveries and core earnings per share (non-GAAP) that increased 23 percent to $2.31, reflecting strong performance across the company. Fourth-quarter 2014 core operating earnings (non-GAAP) increased to $2.3 billion and GAAP earnings from operations increased to $2.0 billion. Fourth-quarter 2013 results included a $406 million non-cash charge ($0.34 per share) related to the A-12 settlement.

Revenue rose 5 percent in the full year to a record $90.8 billion and core earnings per share (non-GAAP) increased 22 percent* to $8.60 on record deliveries. Full-year 2014 GAAP earnings per share was $7.38.

Core earnings per share guidance for 2015 is set at between $8.20 and $8.40, while GAAP earnings per share guidance is established at between $8.10 and $8.30. Revenue guidance is between $94.5 and $96.5 billion, including commercial deliveries of between 750 and 755. Operating cash flow is expected to be greater than $9.0 billion.

Commercial Airplanes fourth-quarter revenue increased 15 percent to a record $16.8 billion on higher delivery volume and mix. Fourth-quarter operating margin was 9.3 percent, reflecting higher planned period costs and the dilutive impact of 787 deliveries partially offset by the delivery volume (Table 4).

During the quarter, the company began production on the fuselage stringers of the first 737 MAX airplane. The 737 program has won over 2,600 firm orders for the 737 MAX since launch. Also during the quarter, the company began final assembly of the 787-9 Dreamliner at the South Carolina facility and broke ground on the 777X composite centers in Everett and St. Louis.

Commercial Airplanes booked 432 net orders during the quarter with a record 1,432 orders in 2014. Backlog remains strong with nearly 5,800 airplanes valued at a record $440 billion.

Read the full report: CLICK HERE

Copyright Photo: Nick Dean/AirlinersGallery.com. How much longer will the Boeing 747-800 be built? Will there be another “Super Bowl Surprise” in support of the Seattle Seahawks? Boeing 747-8JK N6067E (msn 38636) in house colors departs from Paine Field.

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Boeing slows down 747-8 production rate due to decreased demand

Boeing (Chicago) has announced that it will adjust the production rate for the 747-8 program from two airplanes to 1.75 airplanes per month because of lower market demand for large passenger and freighter airplanes.

Boeing will continue to monitor market conditions and their effect on production rates moving forward. The company expects long-term average growth in the air cargo market to resume in 2014, and forecasts a demand for 790 large airplanes (such as the 747-8 Intercontinental) to be delivered worldwide over the next 20 years.

Copyright Photo: Nick Dean. Boeing 747-8JK Intercontinental N6067E (msn 38636) climbs away from the runway at Paine Field near Everett.