Boeing earns $3.9 billion 2012 net profit
By Aaron Karp | January 30, 2013
Boeing reported net income of $3.9 billion for 2012, down 3% from a net profit of $4.02 billion in 2011, on an 18.9% rise in revenue to $81.7 billion.
Net earnings were negatively affected by a $2 billion income tax expense, up 42.9% from a $1.4 billion income tax expense in 2011.
The company noted it continues production on 787s but has suspended deliveries of the aircraft until US FAA clears the Dreamliner to fly again.
The Boeing Commercial Airplanes unit was a point of strength for the company, posting a full-year operating profit of $4.71 billion, up 35% year-over-year, on a 36% lift in revenue to $49.13 billion. Commercial aircraft deliveries increased 26% compared to 2011 to 601.
Boeing noted that during the fourth quarter, Commercial Airplanes started building 787s at a rate of five per month. It was one of five production rate increases on a cross-section of programs that the company achieved in 2012. It said firm orders for the re-engined 737 MAX now stand at more than 1,000. Boeing’s commercial backlog at year end comprised nearly 4,400 aircraft valued at $319 billion, its highest ever backlog.
In a statement, Boeing chairman, president and CEO Jim McNerney said 2012 was “a year of significant growth and solid execution … Our first order of business for 2013 is to resolve the battery issue on the 787 and return the airplanes safely to service with our customers. At the same time, we remain focused on our ongoing priorities of profitable ramp up in commercial airplane production.”
Boeing’s companywide full-year 2012 operating profit was $6.31 billion, up 8% year-over-year. Fourth quarter net income was down 30% year-over-year to $978 million.
The company predicted it will deliver 635-645 commercial aircraft this year.
ATWonline
By Aaron Karp | January 30, 2013
Boeing reported net income of $3.9 billion for 2012, down 3% from a net profit of $4.02 billion in 2011, on an 18.9% rise in revenue to $81.7 billion.
Net earnings were negatively affected by a $2 billion income tax expense, up 42.9% from a $1.4 billion income tax expense in 2011.
The company noted it continues production on 787s but has suspended deliveries of the aircraft until US FAA clears the Dreamliner to fly again.
The Boeing Commercial Airplanes unit was a point of strength for the company, posting a full-year operating profit of $4.71 billion, up 35% year-over-year, on a 36% lift in revenue to $49.13 billion. Commercial aircraft deliveries increased 26% compared to 2011 to 601.
Boeing noted that during the fourth quarter, Commercial Airplanes started building 787s at a rate of five per month. It was one of five production rate increases on a cross-section of programs that the company achieved in 2012. It said firm orders for the re-engined 737 MAX now stand at more than 1,000. Boeing’s commercial backlog at year end comprised nearly 4,400 aircraft valued at $319 billion, its highest ever backlog.
In a statement, Boeing chairman, president and CEO Jim McNerney said 2012 was “a year of significant growth and solid execution … Our first order of business for 2013 is to resolve the battery issue on the 787 and return the airplanes safely to service with our customers. At the same time, we remain focused on our ongoing priorities of profitable ramp up in commercial airplane production.”
Boeing’s companywide full-year 2012 operating profit was $6.31 billion, up 8% year-over-year. Fourth quarter net income was down 30% year-over-year to $978 million.
The company predicted it will deliver 635-645 commercial aircraft this year.
ATWonline