This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Boeing Net Income Drops 15%

SEATTLE ( TheStreet) -- Boeing (BA - Get Report) said net income fell by 15% as commercial aircraft deliveries slowed in the first quarter. The company beat analyst estimates but offered full-year guidance below estimates.

First-quarter net income was $519 million, or 70 cents a share. Analysts surveyed by Thomson Reuters had estimated 64 cents. Revenue fell 8% to $15.2 billion, in line with estimates.

The results include a charge of 20 cents a share resulting from the new health care law. In the same quarter a year earlier, the company earned $610 million, or 86 cents a share, after a one-time charge of 31 cents a share.

"With clear progress on the 787 and 747-8, solid financial performance and marked improvement in our customer outlook, we continue to draw on the positive momentum we saw at the end of 2009," said CEO Jim McNerney in a prepared statement. "Our outlook remains attractive."

>> Who Owns Boeing?: Atticus Capital

Airplane deliveries fell to 108 from 121, as the company made fewer 747 deliveries than it had planned and faced seat supplier challenges. Still, the operating margin at Boeing Commercial Aircraft increased by 9.1% due to stronger operating performance.

Looking ahead, Boeing guided to full-year 2010 earnings per share of $3.50 to $3.80 a share, including charges for health care legislation, with revenue between $64 billion and $66 billion. Analysts were estimating $3.84 a share on revenue of $65 million. This year, Boeing expects to deliver 460 to 465 commercial aircraft, including the first 787 and 747-8 aircraft.

-- Written by Ted Reed in Charlotte, N.C. .

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BA $144.17 0.00%
AAPL $121.30 0.00%
FB $94.01 0.00%
GOOG $625.61 0.00%
TSLA $266.15 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs