28 Apr '14, 3am

Boeing lifts profit outlook as jetliner demand booms: US aerospace and defense giant Boeing raised its 2014 pr...

Boeing lifts profit outlook as jetliner demand booms: US aerospace and defense giant Boeing raised its 2014 pr...

US aerospace and defense giant Boeing raised its 2014 profit outlook Wednesday despite a first-quarter profit slide, citing strong demand for its new jetliners. A sharp rise in pension costs from a change in retirement plans offset Boeing’s robust commercial aircraft deliveries as airlines seek to renew aging fleets with more fuel-efficient jetliners. Boeing posted net profit in the first quarter of $965 million, down 12.7 percent from a year ago but nevertheless better than analysts expected. Boeing took a $334 million charge for retirement plan changes. Core earnings per share came in at $1.76, three cents higher than a year ago and well above the $1.56 estimate. Boeing posted an 8.3 percent rise in revenues to $20.47 billion, and operating cash flow soared 112 percent to $1.1 billion. The Chicago-based company raised its 2014 profit forecast to between $7.15 and $7.35 p...

Full article: http://www.defencetalk.com/boeing-lifts-profit-outlook-as...

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