Boeing Reports $22.1 Billion Q1 Revenue Up 8.0 Percent

Boeing Company reported first-quarter revenue increased 8.0 percent to 22.1 billion dollars, on higher commercial deliveries.

"With disciplined execution and a sharp focus on productivity, we are meeting increasing customer commitments while profitably growing our business" said Boeing Chairman and Chief Executive Officer Jim McNerney. "The strong operational and financial performance reinforces our ability to continue providing competitive returns for our shareholders while investing in technology and our people."

"Our outlook for the full year remains positive as our teams work to efficiently deliver our portfolio of industry-leading aerospace products and services. We are also maximizing the expertise of our talented people across the company to accelerate development program milestones and improve affordability for our customers."

Commercial Airplanes first-quarter revenue increased 21 percent to 15.4 billion dollars on higher delivery volume and mix. First-quarter operating margin was 10.5 percent, reflecting the dilutive impact of higher 787 deliveries.

During the quarter, Commercial Airplanes captured orders for 52 737 MAX airplanes. The 737 program has won over 2,700 firm orders for the 737 MAX since launch. Also during the quarter, the company opened a new Propulsion Systems facility at Boeing South Carolina that will initially support the 737 MAX and 777X, delivered the first Boeing South Carolina-built 787-9 Dreamliner and received 330-minute ETOPS certification on the 747-8 Intercontinental.

Commercial Airplanes booked 110 net orders during the quarter. Backlog remains strong with over 5,700 airplanes valued at 435 billion dollars.

Defense, Space & Security's first-quarter revenue was 6.7 billion dollars, with an operating margin of 11.1 percent.

Boeing Military Aircraft (BMA) first-quarter revenue was 2.7 billion dollars, reflecting planned timing of deliveries and mix; operating margin was 9.5 percent. During the quarter, BMA was awarded contracts for 43 Apache helicopters.

Backlog at Defense, Space & Security was 60 billion dollars, of which 37 percent represents orders from international customers.

(PHOTO) - Istanbul