787 Dreamliner trouble not hurting Boeing’s bottom line
The three month grounding of the entire Boeing Dreamliner fleet hasn’t hurt the company’s bottom line. Second quarter earnings are out and Boeing didn’t take a hit.
“You can see by our quarterly results that there was no significant impact to our operations,” Boeing President and CEO Jim McNerney told an investor conference call today.
Boeing said the second quarter was so good, it has upped its revenue forecast for the year by $1 billion. The company now expects to make between $83 and $86 billion this year.
Revenues for Q2 are up 9 percent over last year at just under $22 billion. Earnings per-share are up 11 percent over 2012 at $1.41.
The numbers are being driven by increased production. Boeing delivered 169 commercial airplanes in the last three months, the largest quarterly output in 15 years.
It expects to deliver around 640 airplanes to customers this year, including 60 Dreamliners.
The backlog is now 4,800 planes.
Meanwhile, Boeing says it has finished paying airline customers whose 787s were grounded earlier this year.
The company isn’t saying how much it spent. It wasn’t enough to show up in the company’s financial results.
The Associated Press contributed to this story.