Boeing’s Q2 profit flies 26% higher while revenues rise

posted on 26th July 2018 by Justin Burns
Boeing's Q2 profit flies 26% higher while revenues rise

Boeing’s revenues increased by five per cent to $24.3 billion in the second quarter (Q2) in ending 30 June and it posted a profit of $2.2 billion – up 26 per cent on Q2 last year.

The world’s largest aircraft manufacturer’s revenue guidance for 2018 increased by $1 billion to between $97 and $99 billion.

Boeing said its commercial aircraft backlog grew to $416 billion in Q2, including nearly 5,900 commercial aircraft and it booked 239 net orders, including 91 widebodies.

The US manufacturer left its delivery guidance unchanged and still expects to deliver between 810 to 815 commercial aircraft this year.

During Q2, Boeing delivered 194 aircraft, including delivery of the first 737 MAX aircraft to Jet Airways, Ethiopian Airlines, and Xiamen Airlines.

The 737 MAX program celebrated the one year anniversary of entering revenue flight service and it said the aircraft has gained 4,600 orders since its launch. The 777X program remains on track for delivery in 2020 as the first two test aircraft moved into the low-rate initial production line.

Boeing chairman, president and chief executive officer, Dennis Muilenburg (pictured left) said: “We are seeing the results of our One Boeing approach as our teams work together across the Boeing enterprise to deliver value to our customers and grow our business.

“In the quarter, we generated improved revenue and earnings, delivered strong cash and captured $27 billion in new orders.”

He added: “We celebrated the first anniversary of the launch of Boeing Global Services and the one-year revenue service anniversary of the 737 MAX.

“We booked 239 net commercial airplane orders in the quarter, which included 59 787s – further demonstrating the value this airplane family brings to our customers. Solid progress continued on the 777X program with the first two test aircraft currently being built in the factory.”