Boeing Earnings Slide Amid Strike

Earnings were reduced by an estimated 60 cents a share due to fewer airplane deliveries and by 8 cents because of tax adjustments, the company said. The company delivered about 35 fewer commercial airplanes than it had planned.

Boeing's backlog increased by 7% during the quarter. The company said that although it has not financed any new airplane deliveries since 2006, it may need to do so beginning in 2009. Boeing has made backstop financing commitments for 3% of its commercial backlog, primarily 787s, that involve deliveries expected through the end of the next decade.

At Boeing Integrated Defense Systems, third-quarter revenue rose 6% to $8.5 billion. Operating earnings were up 4% to $854 million. The strike reduced IDS operating margins by an estimated 0.4 points.