Boeing’s financial results fueled by new orders
Second-quarter revenue was up considerably for Boeing, rising from $15.5 billion to $16.5 billion, year over year. The aircraft manufacturer also reported a year-over-year, net-income growth of 20 percent in the quarter ending in June, spearheaded by its strong operational performance and new aircraft contracts.
Boeing’s operating margin rose 0.9 percent in the second quarter of 2011, increasing from 8.4 percent to 9.3 percent. The company also posted growth in earnings from operations and earnings per share, up 17 percent and 18 percent, respectively.
What’s more, Boeing officials said, the company’s backlog of $323 billion was more than 400-percent higher than current revenue estimates. Although down from the first quarter’s backlog of $329 billion, these numbers reflect a year-end increase of $2.7 billion.
Boeing CEO Jim McNerney attributes much of his company’s second-quarter success to new aircraft orders. “We made major progress toward certification and delivery of the 787 Dreamliner and 747-8 and continued our disciplined increases in commercial airplane production rates,” he said in a statement.
In fact, flight-testing for the 787 and the 747-8 Freighter is almost complete, and the first batch of aircraft are scheduled for delivery later this quarter.
It’s a key reason McNerney remains optimistic about Boeing’s immediate future. “Our outlook for the year has strengthened as our team continues its relentless focus on productivity improvement, cash management and program execution,” he revealed.