Industryweek 6543 Boeing 1
Industryweek 6543 Boeing 1
Industryweek 6543 Boeing 1
Industryweek 6543 Boeing 1
Industryweek 6543 Boeing 1

Boeing Lifts Profit Outlook as Jetliner Demand Booms

April 23, 2014
"Our outlook for the full year remains positive on the strength of demand for our fuel-efficient new commercial airplanes, our solid position in global defense, space and security markets, and our enterprise focus on meeting customer commitments, improving productivity and profitably delivering the growth in our sizable backlog," said Boeing chief executive Jim McNerney.

NEW YORK -- Despite a first-quarter profit slide, Boeing (IW 500/14) raised its 2014 profit outlook citing strong demand for its new commercial airplanes.

A sharp rise in pension expenses amid a change in the company's retirement plans in the January to March period offset strong commercial aircraft deliveries, as airlines seek to renew aging fleets with more fuel-efficient jetliners.

Boeing posted net profit in the first quarter of $965 million, a decline of 12.7% from the year-ago quarter, but more than analysts expected.

Core earnings per share came in at $1.76, three cents higher than a year ago and well above the $1.56 estimate.

Boeing said it was a "strong" first quarter and raised its 2014 profit forecast to between $7.15 and $7.35 per share, from $7.00 to $7.20, to reflect a tax settlement. It confirmed its outlook for revenue, operating cash flow and deliveries.

"Our outlook for the full year remains positive on the strength of demand for our fuel-efficient new commercial airplanes, our solid position in global defense, space and security markets, and our enterprise focus on meeting customer commitments, improving productivity and profitably delivering the growth in our sizable backlog," said Boeing chief executive Jim McNerney.

Copyright Agence France-Presse, 2014

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!