Boeing Churning Out Airplanes, Profits
Posted on April 25, 2012 at 09:36 AM EDT
For years, investors would await Boeing (BA) earnings calls for news about when the company’s new planes would start being delivered. That’s not likely to be a concern this quarter. The company is producing airplanes at a fast clip and is winning back the title of the largest global commercial jet company — Boeing delivered [...]

For years, investors would await Boeing (BA) earnings calls for news about when the company’s new planes would start being delivered. That’s not likely to be a concern this quarter. The company is producing airplanes at a fast clip and is winning back the title of the largest global commercial jet company — Boeing delivered 137 planes in the quarter, while Airbus delivered 131, Bloomberg noted.

Boeing shares rose 3% in early trading.

Boeing posted $1.22 of EPS, 28 cents better than expectations. Revenue of $19.4 billion beat expectations for $18.4 billion. Commercial airplane revenue jumped 54% and deliveries grew 32%. The company’s operating margin widened to 8.1% from 6.7%. The company’s 137 plane deliveries outpaced last year’s total of 104, mostly on stronger sales of the 737 and 777.

“We also grew our record backlog with more than 300 firm orders for our new 737 MAX, a contract award for 84 new F-15s for Saudi Arabia, and other key wins,” noted Chairman and CEO Jim McNerney in a statement.

The company raised its full-year EPS to a range of $4.15 to $4.35 from prior guidance of $4.05 to $4.25. Revenue and deliveries guidance remained the same.

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