Boeing (BA) Earnings Take-Off

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Boeing (BA) posted strong earnings and improved guidance, both above Wall St. estimates. The stock rallied in pre-market trading.

Second-quarter revenues grew 14 percent to $17.0 billion and earnings from operations rose to $1.5 billion, yielding an 8.8 percent operating margin. Boeing increased its 2007 guidance for revenue, earnings per share and cash flow based on strength in its core businesses and company-wide growth and productivity efforts.

Boeing’s 2007 revenue guidance is now approximately $65 billion, up from $64.5 billion to $65 billion, and 2008 revenue guidance is reaffirmed at $71 billion to $72 billion. Earnings-per-share guidance for 2007 is now $4.80 to $4.95 per share, up from $4.55 to $4.75 per share. Guidance for 2008 EPS is reaffirmed at $5.55 per share to $5.75 per share. Operating cash flow for 2007 is now expected to be greater than $6 billion versus prior guidance of greater than $4 billion, and cash flow guidance for 2008 is reaffirmed at greater than $7 billion

Douglas A. McIntyre