News Column

Boeing 1Q Earnings Soar on Commercial Plane Deliveries

April 25, 2012

Boeing Co's first-quarter revenue increased by 30 per cent to 19.4 billion dollars, the US aircraft manufacturer announced Wednesday, on increased commercial aeroplane deliveries.

Profit increased from the same period a year ago by 58 per cent, to 923 million dollars.

Jim McNerney, chairman and chief executive, said: "We also grew our record backlog with more than 300 firm orders for our new 737 MAX, a contract award for 84 new F-15s for Saudi Arabia, and other key wins," adding that the outlook for the year was positive.

The company said its backlog at the end of the quarter was strong with orders worth 380 billion dollars, including 42 billion dollars of new orders. Boeing expects to deliver between 585 and 600 commercial aeroplanes in 2012.

The company expects slightly higher earnings this year than previously thought, because of lower costs of litigation rather than a boom in aviation.

EADS, the parent company of Boeing's rival Airbus, will release its results on May 16.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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