Boeing profit jumps 38 percent on higher jet deliveries
Reuters
Published Apr 22, 2015 08:32AM ET
Boeing profit jumps 38 percent on higher jet deliveries
(Reuters) - Boeing Co 's (N:BA) net profit soared 38 percent in the first quarter, helped by rising production of commercial aircraft, the company said on Wednesday.
Net income rose to $1.34 billion, or $1.87 per share, from $965 million, or $1.28 per share, a year earlier.
Boeing's profit rose 19 percent per share after adjusting for a charge of 29 cents a share a year ago related to changes in the company's retirement plan.
Core earnings, which exclude pension and other costs, rose to $1.97 per share from $1.76.
Revenue jumped 8 percent to $22.15 billion, helped by a 14 percent increase in commercial aircraft deliveries, to 184 aircraft.
Free cash flow, a closely watched figure, swung to a negative $486 million in the quarter from a positive $615 million a year ago due to significant spending on factories and tooling for new aircraft models being introduced in the next few years.
Boeing reaffirmed its outlook of producing more than $9 billion in operating cash flow this year. The company also said it spent $2.5 billion on share buybacks in the latest quarter.
Deferred production costs for the 787 Dreamliner rose by $793 million, nudging the total deferred production cost balance to $26.9 billion, Boeing said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.