Boeing boosts its 2014 profit forecast

Boeing boosts its 2014 profit forecast
By admin


Boeing has raised its yearly profit outlook following a strong second quarter that saw profit jump 52% on higher jetliner deliveries.

The Chicago-based company has raised its 2014 full-year forecast to core earnings per share between $7.90 and $8.10, up from $7.15 to $7.35, referring to its positive market outlook as a key influencer.

Boeing reported a net profit of AUD $1.79 billion for the April-June quarter, which has risen from AUD $1.18 billion for the same period last year.

Core earnings per share rose 45% to $2.42, which exceeded the analyst estimates of $2.01.

Boeing also delivered 181 jetliners in the second quarter, an increase of 7.1% from 169 aircrafts a year earlier, amid solid demand from airlines.

Boeing’s chairman and chief executive Kim McNerney said the performance standards of the airline played a part in the success of this second quarter.

"Strong operating performance across our production programs and services businesses drove revenue and earnings-per-share growth and healthy operating cash flow," McNerney said.

"With 783 new commercial aeroplane orders to date this year and significant contracts in the quarter for military aircraft and satellites, our backlog remains large and diverse."

During the second quarter, the commercial aircraft division booked 264 net orders, bringing the orders backlog to 5200 aircraft, valued at a record $377 billion according to the company.

Boeing said it expected to deliver between 715 and 725 jetliners this year.

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