Boeing Q1 2019 Earnings Highlights

Sharing is Caring!

by hyousef333


  • Engaging global regulators and customers on safe return to service of the 737 MAX
  • Revenue of $22.9 billion reflecting 149 commercial deliveries and higher defense and services volume
  • GAAP EPS of $3.75 and core EPS (non-GAAP)* of $3.16
  • Operating cash flow of $2.8 billion; paid $1.2 billion of dividends
  • Total backlog of $487 billion, including more than 5,600 commercial airplanes
  • Cash and marketable securities of $7.7 billion provide strong liquidity
  • Previously issued 2019 guidance does not reflect 737 MAX impacts; new guidance to be issued at a future dat

Due to the uncertainty of the timing and conditions surrounding return to service of the 737 MAX fleet, new guidance will be issued at a future date

See also  “Earlier this year, the feds signed an agreement that let Boeing executives off the hook for the 737 MAX catastrophes, which killed 346 people. The lead prosecutor, Erin Nealy Cox, then took a job with the firm that leads Boeing's criminal defense.”

Commercial Airplanes

  • Q1 revenue was $11.8 billion reflecting lower 737 deliveries
  • Q1 operating margin was 9.9% reflecting lower 737 deliveries partially offset by a higher margin on the 787 program
  • Commercial Airplanes delivered 149 airplanes and the production rate for the 787 increased to 14 airplanes per month
  • Commercial Airplanes backlog remains healthy with over 5,600 airplanes valued at $399 billion.

Defense, Space & Security

  • Q1 revenue increased to $6.6 billion primarily driven by higher volume across satellites, weapons and surveillance aircraft partially offset by lower C-17 volume
  • Q1 operating margin increased to 12.8% reflecting a gain on sale of property partially offset by unfavorable mix
  • Defense, Space & Security booked orders valued at $12 billion during the quarter and backlog grew to $67 billion, of which 31% percent represents orders from customers outside the U.S.
See also  Banks report good earnings because they sold off their assets?

Global Services

  • Global Services first-quarter revenue increased to $4.6 billion, primarily driven by higher volume across the portfolio including the acquisition of KLX
  • Q1 operating margin was 14.1% reflecting mix of products and services and less favorable performance

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.