Fri, Apr 26, 2019
Planemaker Says It Does Not Yet Know The Full Impact Of The Grounding
Boeing reported first-quarter revenue of $22.9 billion, Generally Accepted Accounting Principles (GAAP) earnings per share of $3.75 and core earnings per share (non-GAAP) of $3.16, reflecting lower 737 deliveries partially offset by higher defense and services volume. Boeing generated operating cash flow of $2.8 billion and paid $1.2 billion of dividends.
Overall, company revenue was down two percent, but core operating earnings for the first quarter fell 21 percent, according to the company's earnings report.
The previously issued 2019 financial guidance does not reflect 737 MAX impacts. Due to the uncertainty of the timing and conditions surrounding return to service of the 737 MAX fleet, new guidance will be issued at a future date. Boeing is making steady progress on the path to final certification for a software update for the 737 MAX, with over 135 test and production flights of the software update complete. The company continues to work closely with global regulators and our airline partners to comprehensively test the software and finalize a robust package of training and educational resources.
"Across the company, we are focused on safety, returning the 737 MAX to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public," said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg. "As we work through this challenging time for our customers, stakeholders and the company, our attention remains on driving excellence in quality and performance and running a healthy sustained growth business built on strong, long-term fundamentals."
The quarter's operating performance was highlighted by key defense wins, strong commercial widebody performance and orders, continued robust services growth, and receiving Embraer shareholder approval for the proposed strategic partnership.
(Source: Boeing. Image from file)
More News
From 2023 (YouTube Version): Legacy of a Titan Robert (Bob) Anderson Hoover was a fighter pilot, test pilot, flight instructor, and air show superstar. More so, Bob Hoover was an i>[...]
Get The Latest in Aviation News NOW on Instagram Are you on Instagram yet? It's been around for a few years, quietly picking up traction mostly thanks to everybody's new obsession >[...]
Aero Linx: B-52H Stratofortress The B-52H Stratofortress is a long-range, heavy bomber that can perform a variety of missions. The bomber is capable of flying at high subsonic spee>[...]
Altimeter Setting The barometric pressure reading used to adjust a pressure altimeter for variations in existing atmospheric pressure or to the standard altimeter setting (29.92).>[...]
"Knowing that we play an active part in bettering people's lives is extremely rewarding. My team and I are very thankful for the opportunity to be here and to help in any way we ca>[...]
Classic Aero-TV: Remembering Bob Hoover
See All