Manufacturing Industry
Boeing reports first quarterly loss in three years
Airline Industry Information, July 28, 2006
AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD
Aircraft manufacturer Boeing Co (NYSE:BA) has reported its first quarterly loss in three years.
The company reported a net loss of USD160m for the second quarter and reduced its 2006 earnings guidance, but strengthened the outlook for its commercial aircraft business.
According to The Associated Press, analysts' expectations were high as the new 787 has been described as the company's most successful commercial aircraft launch before it is even built.
Boeing also reported that its revenue increased 2% to USD15bn from USD14.7bn a year ago and said that its Seattle-based commercial aircraft division showed a 10% increase in revenue, contributing to the operating earnings increase of 51% to USD719m. The division generated USD7.1bn in sales or 47% of the company's total.
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