Record commercial deliveries drive up revenue at Boeing
Boeing has revealed second-quarter revenue increased 11 per cent to $24.5 billion on record commercial deliveries.
Second quarter 2015 results included the previously announced $536 million after-tax charge on the KC-46 Tanker program reflecting higher estimated costs.
Core earnings per share guidance for 2015 has been adjusted to between $7.70 and $7.90 per share, from $8.20 and $8.40, to reflect the impact of the second quarter 2015 KC-46 Tanker charge.
This has been partially offset by strong performance – valued at $0.27 per share.
GAAP earnings per share has been adjusted to between $7.60 and $7.80, from $8.10 and $8.30.
“Record commercial airplane deliveries to customers worldwide drove solid revenue growth, and the strength of our overall portfolio and diligent focus produced significant operating cash flow during the quarter,” said Boeing president Dennis Muilenburg.
“Strong operating performance across our commercial and defence production programs partially offset the tanker charge and enabled us to maintain our commitments to return cash to our shareholders and invest in innovation and our people.”
“Overall, our outlook for the second half of the year remains positive.
“On the tanker program, we are investing the necessary resources to keep this vitally important program on schedule for our customer.
“We have a clear understanding of the work to be done and we are confident that the long-term financial value of the program will reward our additional investment.
“With our sustained focus on productivity and growth, we will continue to profitably deliver on our large and diverse backlog, capture new orders, and deliver increasing value to all of our stakeholders.”