Boeing Delivers Record Number Of Aircraft
Boeing delivered a record number of commercial aircraft in the third quarter as it reported an 18 percent increase in pre-tax earnings.
Total revenue for the quarter to end September came in at USD$24.31 billion from last year’s $23.9 billion, with earnings from operations of $2.69 billion, up from $2.28 billion. Profit after tax slipped 19 percent to $1.85 billion.
“Our teams across all three business segments are driving execution with a focus on both productivity and growth, which has enabled Boeing to deliver solid third quarter financial results,” chief executive Dennis Muilenburg said.
The three business segments are Commercial Aircraft; Defence, Space & Security; and Global Services.
“We achieved a number of key milestones in the quarter with the delivery of a record 202 commercial airplanes, including 24 737 MAXs,” Muilenburg said.
The total number of 737s delivered during Q3 was 145, up from 120, but all other models showed a small drop in the number of aircraft handed over.
Deliveries of Boeing’s most popular wide-body jet, the 787 Dreamliner, were down one to 35, the 747 was also down by one delivery to four, but the 777 eased off from 22 last year to 16 in 2Q17 as Boeing prepares to switch production to its replacement, the 777X, due for first delivery in late 2019.
The company’s order backlog at the end of the quarter was just under 5,700 commercial aircraft, valued at $474 billion at list prices.
Boeing maintained its revenue guidance for the full year, in a range of $90.5 billion to $92.5 billion. Commercial aircraft deliveries are forecast between 760-765, again unchanged from previous guidance.