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Sales and profits slip at Boeing | Sales and profits slip at Boeing |
(35 minutes later) | |
Sales and profits slipped at Boeing last year, driven largely by lower deliveries of its military aircraft. | Sales and profits slipped at Boeing last year, driven largely by lower deliveries of its military aircraft. |
The world's number one aeroplane manufacturer made sales of $94.6bn, down 2%, and net earnings of $4.9bn, 5% lower. | The world's number one aeroplane manufacturer made sales of $94.6bn, down 2%, and net earnings of $4.9bn, 5% lower. |
It said revenues were likely to slip further in 2017, to between $90.5bn and $92.5bn. | It said revenues were likely to slip further in 2017, to between $90.5bn and $92.5bn. |
But the US company also expects to deliver more commercial aircraft and to improve its earnings per share. | |
"Looking forward, our team is intent on accelerating productivity and programme execution," said chairman and chief executive Dennis Muilenburg. | "Looking forward, our team is intent on accelerating productivity and programme execution," said chairman and chief executive Dennis Muilenburg. |
In the period, Boeing made 748 commercial aircraft deliveries, down from 762 in 2015, claiming to have led the market for "the fifth consecutive year". | |
It also delivered fewer military planes - in particular, its new CH-47 Chinook helicopter and its F/A-18 fighter jet - while sales in the division slipped 7%. | |
Revenue also fell in the firm's space and services divisions because of weaker demand for satellites and aircraft modernisation. | |
However, overall group earnings surged 59% in the fourth quarter of the year as demand for the company's commercial planes ticked up. | |
Boeing also projected higher commercial deliveries this year of between 760 and 765 aircraft. | |
The company's shares were up by more than 2% in early trading in New York. |