Boeing Reports First-Quarter Earnings
- First-quarter net income was $0.6 billion with earnings per share of $0.86 which includes the previously announced $0.38 per share reduction from revised twin-aisle commercial airplane production rates and lower price escalation forecasts
- Revenue rose 3 percent to $16.5 billion on higher commercial airplane deliveries and higher volume in defense
- Operating cash flow was $0.2 billion
- Backlog at $339 billion -- nearly five times current annual revenues
- 2009 earnings outlook reduced to reflect changes in commercial market; outlook for Integrated Defense Systems is reaffirmed on solid execution
CHICAGO, April 22, 2009 --
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