With an increase in deliveries of commercial planes, Boeing has reported a rise of 1% in revenue on Wednesday for its second quarter. The company also enjoyed an increase of 52% in net earnings in comparison with the same period one year ago.
Revenue at the aircraft maker passed $22 million in the three months ending June 30, while its net earnings topped $1.7 billion, which was up from $1.1 billion during the same three-month period one year ago, said company officials in their report of earnings.
For the year, Boeing said it is expecting its core earnings to be between $7.90 and $8.10 a share, which is an increase from its forecast previously of between $7.15 and $7.35 a share.
During the quarter, Boeing said it made deliveries of its first 787-9 as well as its 8,000th model 737, successfully finished a key missile intercept defense test and made a delivery of its 100th EA-18 Growler to the United States Navy, added McNerney.
The CEO said that challenges facing the program for the KC-46A Tanker were causing higher spending in order to keep the same schedule, but the issues involving that are understood. He said the testing of tankers that are fully provisioned is expected to take place during the early months of 2015.
The backlog of the company’s 5,200 commercial plane orders remains diverse, said McNerney.
The Boeing CEO added that with 783 new orders for commercial plane thus far in 2014 and a significant number of contracts during the second quarter for military satellites and aircraft, the backlog remains diverse and large.
In all, the strong financial performance during the first six months sustained company focus on productivity and growth and a positive outlook for the market supports our earnings guidance increase for this year.
Shares at Boeing were up 1.5% reaching $131.70 during premarket trading.
