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martes, 13 de agosto de 2013

Boeing profit up 13% on commercial aircraft sales : Report

Boeing Co.'s second-quarter earnings rose 13% as the aerospace and defense giant reported strong revenue growth, driven by higher deliveries of commercial aircraft and as its defense business benefited from improved margins
For the year, the company raised its per-share earnings estimate to between $6.20 and $6.40 on revenue of between $83 billion and $86 billion, from its previous estimate for $5 to $5.20 a share and $82 billion to $85 billion in revenue
The company recently has faced challenges from further safety concerns for its 787 Dreamliners, this time stemming from emergency-locator transmitters made by Honeywell International Inc. that were linked to a fire inside a parked Ethiopian Airlines 787
Boeing's flagship jet had just returned to the skies in May after a global grounding stemming from twin incidents in January linked to the jet's lithium-ion batteries
Boeing also has a defense business, exposing the company to industry-wide revenue pressure caused by reduced U.S. government spending
But so far major defense firms appear to be riding out the wave of weakened Pentagon spending
During the second quarter, the company's commercial airplanes segment posted revenue growth of 15% as deliveries rose 13% to 169
Operating earnings jumped 20% amid stronger margins
In the latest period, Boeing's defense business reported revenue edged down 0.1%, though operating earnings were up 3.7%
Chairman and Chief Executive Jim McNerney said the company "further strengthened our market-leading position in commercial airplanes with the successful launch of the 787-10 and $40 billion of new orders, while our defense, space and security business delivered improved margins and market share in a tough market."
Boeing reported a profit of $1.09 billion, or $1.41 a share, up from $967 million, or $1.27 a share, a year earlier
Core operating earnings--which adjusts to exclude pension components related to market fluctuations and other impacts--were $1.67 a share compared with $1.48 a year earlier
Revenue rose 9% to $21.82 billion
Analysts polled by Thomson Reuters most recently projected earnings of $1.58 a share on revenue of $20.78 billion
Operating margin rose to 7.9% from 7.7%

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