Development on the 777X program remains on track as production began on the first 777X fuselage for structural testing

Development on the 777X program remains on track as production began on the first 777X fuselage for structural testing

Commercial Airplanes first-quarter revenue was $13.7 billion reflecting higher deliveries and mix (Table 4). First-quarter operating margin increased to 11.0 percent, reflecting strong operating performance on production programs.

We believe that these non-GAAP measures provide investors with additional insight into the company’s ongoing business performance

During the quarter, Commercial Airplanes delivered 184 airplanes, including delivery of the first 787-10 Dreamliner to Singapore Airlines and delivery of the first 737 MAX 9 to Lion Air Group. The 737 program reached additional milestones during the quarter, including payday loan places in Brookville Ohio first flight of the 737 MAX 7 and firm configuration of the 737 MAX 10. The 737 program has captured over 4,400 orders since launch for the 737 MAX, including a recent order from Jet Airways for 75 additional airplanes. Reflecting the strength of the cargo market, we now plan to increase the production rate on the 767 program from 2.5 to 3 per month beginning in 2020.

Commercial Airplanes booked 221 net orders during the quarter. Backlog remains robust with over 5,800 airplanes valued at $415 billion .

Defense, Space & Security first-quarter revenue increased to $5.8 billion driven by C-17, international fighters, and weapons volume (Table 5). First-quarter operating margin increased to 11.3 percent on solid execution and mix.

During the quarter, Defense, Space & Security was awarded an initial contract for 28 F/A-18 Super Hornets for Kuwait , a contract for the final C-17 for India , and an extension for Ground-based Midcourse Defense development and sustainment from the Missile Defense Agency. We continue to progress on development programs as the KC-46 Tanker program completed fuel on-load certification testing, the first Space Launch System intertank hardware was delivered to NASA, and the second Commercial Crew spacecraft successfully achieved power-on.

Global Services first-quarter revenue increased to $3.9 billion , reflecting growth in commercial services (Table 6). First-quarter operating margin was 16.3 percent reflecting product and services mix.

During the quarter, Global Services was awarded a follow-on contract from the Royal Canadian Air Force to provide full system logistics, engineering support, supply chain, data analytics and training services to their fleet of Chinooks. Global Services also captured a contract from the Royal Saudi Air Force for F-15 repair support services and a contract from Aeromexico for the 787 landing gear exchange program. As part of Boeing AnalytX, we released Self-Service Analytics to complement our digital solutions portfolio, allowing customers to access data to develop deeper insights into their operations.

9 billion . Total pension expense for the first quarter was $40 million , down from $97 million in the same period of the prior year. Revenue in other unallocated items and eliminations decreased primarily due to the sale of aircraft previously leased to customers in the first quarter of 2017. The effective tax rate for the first quarter e period in the prior year primarily due to the reduction of the federal tax rate to 21%.

At quarter-end, Boeing Capital’s net portfolio balance was $2

We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (GAAP) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. The following definitions are provided:

Leave a Reply

Your email address will not be published. Required fields are marked *