Industry Boeing reports financial results for Second Quarter of 2018
The U.S. - American manufacturer has reported its second-quarter financial results. The revenue increased to $24.3 billion.
The increased revenue reflects a total of 194 delivery of commercial aircraft. Boeing delivered an operating cash-flow of $4,7 billion, with repurchasing $3.0 billion of shares and $1.0 billion of dividends.
Revenue for commercial aircraft was $14.5 billion, while the second-quarter margin increased to 11.4 percent. Altogether, the manufacturer was able to notice an 26 percent increase in revenue.
Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg commented: "We are seeing the results of our One Boeing approach as our teams work together across the Boeing enterprise to deliver value to our customers and grow our business. In the quarter, we generated improved revenue and earnings, delivered strong cash and captured $27 billion in new orders."
Muilenburg added, that the manufacturer celebrated its one-year revenue service anniversary of the 737 MAX program. In this quarter, Boeing was able to firm up 239 orders for commercial aircraft, including 59 Boeing 787 Dreamliners. While the first two B777X test beds are currently being build, the manufacturer´s service business delivered the first converted Boeing 737 freighter.
"Continued services growth, increasing defense volume and strong performance of our commercial business, as well as our positive market outlook, give us the confidence to raise our revenue and Commercial Airplanes margin guidance for the year. We remain focused on execution, driving innovation, continuing to develop and maintain the best team and talent in the industry, and increasing value for our customers, shareholders, employees and other stakeholders,” Mulienburg stated.
Boeing currently holds an aircraft backlog of over 5,900 commercial aircraft. This means, that the backlog now amounts to $416 billion. The 194 commercial aircraft deliveries comprise the first 737 MAX aircraft to Ethiopian Airlines, Jet Airways and Xiamen Airlines.
Source © Boeing.com