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Boeing Net Up on Commercial Unit Strength

Boeing Co.'s (BA) second-quarter income rose 2.8% as the aerospace giant saw a continued rebound in its commercial airplane business, while its defense operations flagged. The company raised its per-share earnings estimate for the year, now seeing $4.40 to $4.60 a share, from its previous view of $4.15 and $4.35. Boeing also upped its revenue guidance by $1.5 billion, forecasting $79.5 billion to $81.5 billion. The company's commercial business has been benefiting from a global expansion of passenger air travel and a flood of orders for its best-selling 737 jets. For the latest period, the commercial airplane business posted revenue of $11.84 billion, up 34%, as deliveries improved 27%. Still, Boeing's ability to execute on its bulging commercial aircraft backlog has been a primary concern among investors, and the company still has significant milestones to meet in boosting 787 output and launching its new 737 Max. Meanwhile, Boeing and others have faced challenges from soft U.S. defense spending. The company earlier this year unveiled plans to close defense operations in Wichita, Kan., as it grapples with lighter government spending. In the latest period, Boeing's defense, space and security segment, saw revenue rise 7% to $ 8.19 billion and operating earnings shrank 6%. Its network and space systems segment posted a 34% earnings drop. Boeing reported a profit of $967 million, or $1.27 a share, up from $941 million, or $1.25 a share, a year earlier. Revenue rose 21% to $20.01 billion. Analysts polled by Thomson Reuters most recently projected earnings of $1.12 a share on revenue of $19.37 billion. Operating margin narrowed to 7.7% from 9.3%. Shares closed Tuesday at $72.03 and were up 2.7% premarket. As of the close, the stock was down 1.8% so far this year. Write to Ben Fox Rubin at ben.rubin@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Boeing (BA)
DateTimeHeadline
04/29/201611:00:00Boeing Investor Conference to be Webcast May 11
04/29/201603:00:00Boeing Set To Deliver Record Number of Airplanes to Turkish Airlines
04/28/201616:30:00SpaceX Wins U.S. Military Contract to Send Satellite Into Orbit
04/28/201616:18:00SpaceX Wins U.S. Military Contract to Send Satellite Into Orbit
04/28/201611:05:00Ex-Im Bank Faces New Hurdle as Senator Blocks Board Nominees
04/28/201610:00:00Boeing Honors 12 Suppliers for Outstanding Performance in 2015
04/28/201609:52:00China Eastern Orders $10 Billion of New Planes From Airbus, Boeing
04/28/201608:30:00Boeing, China Eastern Airlines Finalize Order for 15 787-9 Dreamliners
04/28/201608:20:00Raytheon Sales Rise But Profit Falls
04/28/201607:50:00Bombardier Confirms Large Delta CSeries Order
04/28/201605:59:00Ex-Im Bank Faces New Hurdle in Congress Over Board Nominees
04/28/201603:03:00Boeing Earnings Fall as Jet Charges Mount -- WSJ
04/27/201618:46:00Boeing Profit Falls as Jet Charges Mount -- 4th Update
04/27/201618:03:00Boeing Profit Falls as Jet Charges Mount -- 3rd Update
04/27/201611:21:00Boeing Profit Falls as Commercial Deliveries Lag -- Update
04/27/201610:01:00Correction to Boeing Earnings Article
04/27/201608:51:00Boeing Profit Falls as Commercial Deliveries Lag
04/27/201608:50:00Correction to Boeing Earnings Story
04/27/201608:40:00Northrop Grumman Tops Expectations, Lifts Year Guidance
04/27/201608:40:00Boeing Profit Falls as Commercial Deliveries Lag

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