Boeing Reports Strong First-Quarter 2015 Results
Chicago, Il., April 22, 2015--The Boeing Company [NYSE: BA] reported first-quarter revenue increased 8 percent to US$ 22.1 billion on higher commercial deliveries Core earnings per share (non-GAAP) increased 12 percent to US$ 1.97, reflecting strong performance across the company, and GAAP earnings per share was US$1.87. The Company reaffirmed its 2015 financial and deliveries guidance.
"With disciplined execution and a sharp focus on productivity, we are meeting increasing customer commitments while profitably growing our business," said Boeing Chairman and Chief Executive Officer Jim McNerney. "The strong operational and financial performance reinforces our ability to continue providing competitive returns for our shareholders while investing in technology and our people."
"Our outlook for the full year remains positive as our teams work to efficiently deliver our portfolio of industry-leading aerospace products and services. We are also maximizing the expertise of our talented people across the company to accelerate development program milestones and improve affordability for our customers," McNernney added.
Boeing's Defense, Space & Security business unit's first-quarter revenue was US$ 6.7 billion with an operating margin of 11.1 percent.
Network & Space Systems (N&SS) first-quarter revenue was US$ 1.7 billion, reflecting lower satellites and missile defense system program volume partially offset by higher volume on the Commercial Crew program. Operating margin increased to 9.6 percent on strong performance related to our United Launch Alliance joint venture. During the quarter, the first two all-electric Boeing 702SP satellites were launched on a single rocket.
Backlog at Defense, Space & Security was $60 billion, of which 37 percent represents orders from international customers.
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