PrintPrintThe Boeing Co. announced its second quarter earnings today, reporting a boost in revenues and earnings driven in part by increased airplane deliveries. The company also adjusted its outlook for 2012 and expects to generate revenues between $79.5 billion and $81.5 billion.
By Matt Tomsic
mtomsic@scbiznews.com
Published July 25, 2012
Boeing Commercial Airplanes, which includes Boeing South Carolina, boosted its number of deliveries year-over-year for the second quarter, driving increases in revenues for itself and the Boeing Co.
For the second quarter, Boeing Commercial Airplanes reported revenues of $11.8 billion, up 34% year-over-year, and earnings of $1.2 billion, up 32% year-over-year.
Boeing delivered 11 Dreamliners during the first half of 2012 and six Dreamliners during the second quarter. Boeing South Carolina rolled its first completed 787 from its North Charleston facility during the second quarter, and the airplane was set for delivery to Air India by June, but the date passed and Boeing has not issued a new delivery date. During an earnings call, Boeing CEO Jim McNerney said Air India is the only 787 customer that has deviated from the delivery plan.
Overall, Boeing reported second quarter revenues of $20 billion, an increase of 21%, and earnings of $1.5 billion, an increase of 1%.
The company adjusted its outlook for 2012 and expects to generate revenues between $79.5 billion and $81.5 billion. Boeing Commercial Airplanes expects to deliver between 585 to 600 airplanes total and roughly 40 of those deliveries will be Dreamliners. Boeing South Carolina expects to complete and deliver four airplanes by the end of the year.
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