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Boeing reports 19 rise in net earnings

Article By: ,  Financial Analyst
January 29, 2015 10:26 AM

Planemaker Boeing has reported a strong performance in the final quarter of the year.

The aerospace giant saw a 19 per cent rise in net earnings for the period taking its total to $1.47 billion (£970 million). The company's commercial airbus business was one of the top performing areas with a 15 per cent increase in revenues to $16.8 billion. The trading update prompted a significant bump in the firm's share price to 138.26 as of 15:17 GMT on Wednesday (January 28th).

One of the main drivers for Boeing's success has been a high demand for its aircraft. The company confirmed during the week that it expects to deliver between 750 and 755 new commercial jets over the next 12 months. This level of orders will ensure that Boeing can once again outstrip rival Airbus when it comes to production.

Jim McNerney, chairman and chief executive of Boeing, was pleased with the firm's progress and said: "Strong operating performance in the final quarter of 2014 propelled us to some of our best-ever results and sealed a fifth consecutive year of core operating earnings growth.

"By responding to strong demand with market-leading and proven products and capabilities, and delivering them more efficiently, we are strengthening a powerful business platform that is providing increased returns for our shareholders."

Soaring Dreamliner costs

It was not all positivity as the company confirmed that manufacturing costs for the advanced 787 Dreamliner aircraft continued to grow faster than previously expected. The Dreamliner has endured somewhat of a checkered entry into the commercial airline sector with the models experiencing a number of technical difficulties, effectively hampering its roll out.

Boeing managed to pull off a major coup towards the end of the year when the company struck a deal with Air China to deliver 60 737 aircraft. The deal, worth over $6 billion, will see aircraft delivered between 2016 and 2020.

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