Boeing Likes Order Outlook

Boeing(BA Quote) reported a fourth-quarter loss, forecast 2009 earnings below analyst estimates and plans 10,000 layoffs, but the company said its bulging order book offers protection from the global recession, at least for the current year.

"We have long-term order books with financing arranged12 to 18 months in advance (and) we have significant overordering," said CEO James McNerney, on an earnings conference call. "But that doesn't mean that longer term we're immune from fundamental changes in demand, fundamental changes in the credit markets.

Boeing declined to issue 2010 guidance. "There's no questions things could happen as things move around," McNerney said. "We're not naive to the fact that even though we have it in the backlog and under contract, that there can't be some uncertainties." ...