Boeing’s Q2 Earnings Beat Estimates (BA)

PUBLISHED: Jul 25 2012 @ 13:49 | Comments (0) | More info about Ed Liston

Aircraft manufacturer Boeing Company (NYSE:BA) today reported better-than-expected second-quarter profit. The company also raised its full-year earnings outlook, sending the stock sharply higher.

Boeing is ramping up its production in order to meet increasing demand for new, fuel-efficient planes. The Chicago, Illinois-based company is all set to overtake European rival Airbus in plane deliveries in 2012.

For the second quarter of 2012, Boeing reported a profit of $967 million, or $1.27 per share, compared to a profit of $941 million, or $1.25 per share reported for the same period in the previous year. BA’s second-quarter profit beat consensus forecast of $1.12 per share.

Revenue for the second quarter rose 21% to $20 billion. The increase in revenue was driven by commercial aircraft and military sales. BA’s second-quarter revenue also beat the consensus forecast of $19.4 billion.

The company’s commercial plane unit posted a 34% increase in second-quarter sales to $11.8 billion. Defense unit sales, meanwhile, rose 7% to $8.2 billion in the second quarter.

For the full year, Boeing now expects earnings to be between $4.40 per share and $4.60 per share, compared to previous guidance range of $4.15 per share to $4.35 per share.

BA stock is currently trading 3.01% higher at $74.20.

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