Commercial aviation drives revenue increase at Boeing

Commercial aviation drives revenue increase at Boeing

The Boeing Company has reported second-quarter revenue of $24.3 billion.

The figure is up five per cent from $23 billion for the same period last year, reflecting higher commercial deliveries and mix, defence volume and services growth.

GAAP earnings per share increased to $3.73 and core earnings per share (non-GAAP) increased to $3.33 reflecting solid execution across the company.

Results also reflect a charge related to the previously announced Spirit litigation outcome ($0.21 per share).

Boeing delivered strong operating cash flow of $4.7 billion, repurchased $3 billion of shares, and paid $1 billion of dividends.

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“We are seeing the results of our One Boeing approach as our teams work together across the Boeing enterprise to deliver value to our customers and grow our business. 

“In the quarter, we generated improved revenue and earnings, delivered strong cash and captured $27 billion in new orders,” said Boeing chief executive, Dennis Muilenburg.

The company’s revenue guidance increased $1 billion to between $97 and $99 billion, driven by defence volume and services growth.

Commercial sirplanes margin guidance was increased to greater than 11.5 per cent on strong performance.

“We celebrated the first anniversary of the launch of Boeing Global Services and the one-year revenue service anniversary of the 737 MAX,” added Muilenburg.

“We booked 239 net commercial airplane orders in the quarter, which included 59 787s - further demonstrating the value this airplane family brings to our customers.

“Solid progress continued on the 777X program with the first two test aircraft currently being built in the factory.”