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Boeing profit rises 25% as it delivers more jets

Download: Printable PDF Date: 21 Oct 2015 11:50 categories:
Boeing profit rises 25% as it delivers more jets - Manufacturer publisher
Tatjana Obrazcova
Country: United States Aircraft: Airplanes
Source: BBC

Aircraft maker Boeing has reported a 25% rise in quarterly profit, helped by an increase in deliveries of commercial aircraft.

The world's largest maker of passenger jets earned $1.70bn (£1.1bn) for the July-to-September period, up from $1.36bn a year ago.

Revenue rose by about 9% to $25.85bn, with commercial aircraft deliveries up 7% to 199.

The Chicago-based company also raised its 2015 sales and profits guidance.

Revenue will be $95-97bn, up from the prior estimate of $94.5-96.5bn. Operating cashflow, Boeing's preferred performance measure, may be $9.5bn for the year, up from the $9bn the company estimated earlier in the year.

Boeing's shares rose 2.8% to $142.82 in pre-market trading.

More 737 deliveries

Boeing said deliveries had surged on its backlog of orders. It delivered 126 of its narrow-body, short-haul 737 aircraft in the period, up from 120 a year ago. It made more 737 planes than all other commercial models combined.

Its commercial backlog stands at $426bn, while it has $46.2bn of defence, space and security orders to fulfil.

"By continuing to profitably deliver on our large and diverse backlog, we are driving strong growth in revenue, earnings and cash flow," said president and chief executive Dennis Muilenburg.

"Solid operating performance across our commercial and defence businesses during the quarter also supported our continued investment in innovation and our people, and our commitment to return cash to shareholders."

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