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News > Companies
Boeing 2Q tops estimate
July 18, 2001: 9:57 a.m. ET

Aerospace leader posts unexpected rise in revenue to lift earnings
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NEW YORK (CNNfn) - Boeing Co. second-quarter earnings climbed as the world's largest aerospace manufacturer topped Wall Street expectations Wednesday with an unexpected rise in revenue.

The company, a component of the Dow Jones Industrial average, also revised 2001 revenue forecasts upward to $58 billion from $57 billion, reflecting a higher commercial airplane delivery forecast. Revenue guidance for 2002 remains unchanged at more than $62 billion.

Seattle-based Boeing (BA: up $0.57 to $56.87, Research, Estimates), which is also the biggest U.S. exporter, reported earnings of $804 million, or 95 cents a diluted share, excluding a one-time gain. Analysts surveyed by earnings tracker First Call had forecast 91 cents a share, up from 71 cents a share a year earlier. Revenue rose 3 percent to $15.4 billion. First Call had forecast a slight decline to $14.7 billion.

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Net earnings including a one-time $36 million gain related to a rosier production outlook for the F15E fighter jet, totaled $840 million, or 99 cents a share.

The company reported $9.3 billion in revenue during the second quarter for its commercial airplane segment, down from $9.9 billion a year ago. Boeing said it delivered 141 planes in the three months, down from 167 a year ago. It anticipates 400 gross orders by the end of 2001.

Boeing also revised its delivery outlook to 538 planes in 2001 and between 510 and 520 in 2002, from 530 planes in each year.

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Military aircraft and missile systems revenue increased to $3.3 billion in the second quarter from $3.1 billion a year earlier. Profit improved due to increased orders from the U.S. Air Force for F15E fighters, the company said.

Space and communications reported quarterly revenue of $2.5 billion, up 40 percent from $1.8 billion a year earlier. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.