Boeing profit jumps on robust plane orders

Source: Manufacturing Exec

Date :23/04/2008 04:41:55

Boeing Co. said on Wednesday first quarter rose 38 percent as its backlog of orders grew to a new record of $346 billion.

The Chicago-based company reported quarterly profit of $1.2 billion, or $1.62 per share, compared with $877 million, or $1.13 per share, in the year-ago quarter.

Revenue rose four percent to $16 billion.

Analysts had expected the world’s second largest commercial plane maker to earn $1.35 per share on $16.5 billion in revenue.

Bottom-line, top-line

"We’re off to a good start in what we expect to be another strong year of financial performance for Boeing,” said Chairman, President and Chief Executive Officer Jim McNerney.

"We are methodically working through our challenges, including the start-up of the 787, and our people remain focused on satisfying our customers and leveraging growth and productivity into better bottom-line and top-line performance for our company."

April 23, 2008