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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
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11/28/201611:40:00WTO Rules Against Boeing in U.S.-EU Trade Battle
11/28/201611:29:00WTO Rules Against Boeing in Trade Battle Between U.S. and EU...
11/28/201610:54:00WTO Judges Tax Relief Granted Boeing to Be Prohibited Subsidy
11/28/201610:51:00Boeing Response to WTO Ruling on Washington State Tax Incentives
11/27/201621:10:00Boeing Faces WTO Sanctions
11/27/201614:21:00Boeing Faces WTO Sanctions
11/25/201606:27:00Boeing Delivers 10th 787 Dreamliner to Vietnam Airlines
11/25/201603:02:00BUSINESS Watch -- WSJ
11/24/201621:00:00Airbus Sticks to Production Plan as Newest A350 Takes to Sky
11/23/201616:09:32Statement of Changes in Beneficial Ownership (4)
11/23/201616:05:58Initial Statement of Beneficial Ownership (3)
11/23/201609:30:00U.S. Durable Goods Post Biggest Jump in a Year
11/22/201621:20:00Amazon's Holiday Deliveries Face Turbulence From Pilot Strike
11/22/201619:12:00Boeing Statement on Fiji Airways' Intent to Purchase 737 MAX...
11/22/201618:30:00Canada Taps Boeing's Super Hornets in Fleet Overhaul -- 2nd Update

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