Published: Wednesday, April 23, 2008
Boeing's first quarter income up 38 percent
The Boeing Co. reported on Wednesday a 38 percent jump in its first quarter income over the previous year based on growth in its commercial jet business.
“We’re off to a good start in what we expect to be another strong year of financial performance at Boeing,” said Jim McNerney, Boeing’s chief executive.
The company reaffirmed its 2008 earnings estimate and forecast a 2009 earnings per share increase of nearly 20 percent, despite delays to the company’s 787 Dreamliner jet program.
Boeing said that progress on the Dreamliner continues on the revised schedule the company provided earlier this month. The Chicago-based jet maker has pushed back the first delivery of its carbon fiber composite 787 until the third quarter of 2009 from its original delivery date of next month.
Overall, Boeing intends to deliver 475 to 480 commercial airplanes this year and between 500 and 505 in 2009, including 25 Dreamliners.
Boeing's total company backlog of unfilled orders rose 32 percent compared to last year to $346 billion. The commercial jet backlog stands at a record $271 billion.
“We’re off to a good start in what we expect to be another strong year of financial performance at Boeing,” said Jim McNerney, Boeing’s chief executive.
The company reaffirmed its 2008 earnings estimate and forecast a 2009 earnings per share increase of nearly 20 percent, despite delays to the company’s 787 Dreamliner jet program.
Boeing said that progress on the Dreamliner continues on the revised schedule the company provided earlier this month. The Chicago-based jet maker has pushed back the first delivery of its carbon fiber composite 787 until the third quarter of 2009 from its original delivery date of next month.
Overall, Boeing intends to deliver 475 to 480 commercial airplanes this year and between 500 and 505 in 2009, including 25 Dreamliners.
Boeing's total company backlog of unfilled orders rose 32 percent compared to last year to $346 billion. The commercial jet backlog stands at a record $271 billion.
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