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Boeing profit rises 25% as it delivers more jets | Boeing profit rises 25% as it delivers more jets |
(about 1 hour later) | |
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. | 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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