Vladimír Urbánek (Kurzy.cz)
World markets  |  October 24, 2012 15:03:33

Boeing's 3Q results beat estimates, company raises full-year profit outlook


American company Boeing, one of the largest aviation manufacturers in the world, announced that in Q3 of this year showed a decline in net profit by 6% to 1.03 mld.USD = $ 1.35 per share, beating the average market expectations moving at $ 1.12 per share. Results surpass estimates for 21 consecutive quarters.
Revenues grew year on year by 13% to 20 mld.USD, which is in line with market expectations.

The company said it sold customers in Q3 total 149 vehicles and 50 military aircraft, helicopters and satellites, corresponding to the total annual improvement of 28%.

For the full-year guidance the company expects profit growth to 4.8 to 4.95 per share, which exceeds the current market expectations set in this regard to $ 4.7 per share. In June, the company lifted its estimates range from 4.4 to 4.6 per share.

The decline in profit was primarily due to higher pension costs that cut income approx 194 mill.USD. The decrease in profit was also involved in a lower selling margins on some machines delivered.
The company said that in 3Q intensified layoffs and inhibited the activities in their arms in preparation for division continued reduction in the budget of the Ministry of Defence. The company also stated that recruiting new employees for the production of civilian aircraft, which will be according to company estimates, in the years to grow substantially.

The volume of pre-negotiated contracts in 3Q rose by 2.5% to a total of 4100 machines with a total value of 307 mld.USD.
The company's management confirmed earlier estimates that this year the total supply of new machines 585-600. At the end of Q3, it was still 436 machines.The main competitor in the form of the European Airbus has a 3-quarter market added a total of 405 aircraft and estimated that by the end of the year, this figure rises to 570 machines.


Shares of the company reacted to the report of the pre-commercial phase of growth of 3%. At the end of yesterday's title this year reviewed less than a full 1%.
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Výsledky Boeingu za 3Q překonaly odhady, firmy zvedá výhled celoročního zisku

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