Aircraft maker Boeing Co. (BA) is scheduled to announce second-quarter results before the market opens on Wednesday. On average, 21 analysts polled by Thomson Reuters expect second-quarter earnings of $1.21 per share. Revenues are estimated to be $17.15 billion. Analysts' estimates typically exclude special items.
The financial crisis has had its impact on the world's second-largest commercial aircraft maker too. With soft demand for air travel and freight services, airlines have reduced purchases of new aircraft and plane makers have seen a decline in orders as well as cancellations.
In June, Boeing reduced its forecast for the commercial airplanes market for the next 20 years, reflecting the ongoing recession that has affected demand for new jets. The Boeing 2009 Current Market Outlook estimated demand for 29,000 new commercial passenger and freighter airplanes by 2028, which is lower than its previous estimate of 29,400 jets.
Last month, Australia's largest airline Qantas Airways Ltd. (QUBSF.PK) said Boeing agreed to defer the delivery of 15 B787-800 Dreamliner aircraft by four years. Further, the companies mutually agreed to cancel orders for 15 B787-900 Dreamliners scheduled for delivery in 2014/2015.
Boeing said recently that it delivered 125 commercial airplanes in the second quarter, one less than the previous year. Boeing delivered 99 737s, two 747s, three 767s, and twenty-one 777s during the quarter.
The plane maker had said in June that global demand remains strong for new, more efficient commercial airplanes due to high fuel prices, aging fleets and environmental concerns. But its fuel efficient 787 Dreamliner has been a cause of concern for Boeing with several production glitches, mainly stemming from outsourcing of parts.
The company's image took a blow when it said last month that the first 787 Dreamliner would be postponed due to a need to reinforce an area within the side-of-body section of the aircraft.
Boeing's defense unit is now focusing overseas, rather than internally, as the Obama Administration's focus is on fighting insurgency, rather than wars.
For the first quarter, the company's net income declined 50% to $610 million from $1.21 billion in the year-ago quarter. First-quarter revenues rose 3% to $16.50 billion from $15.99 billion due to higher commercial airplane deliveries and higher volume in defense.
Airbus maker European Aeronautic Defence and Space Co. EADS N.V. (EADSF.PK, EADSY.PK), Boeing's closest competitor in commercial airplane manufacturing, in May reported a 40% decline in its first-quarter profit, reflecting under-proportional Airbus deliveries, negative foreign exchange impacts and lower revenue recognition in the A400M programme.
Boeing's larger rival in the defense sector, Lockheed Martin Corp. (LMT), Tuesday reported a decline in second-quarter profit, as higher pension expense eroded its bottom line in the latest period, in the absence of a gain recorded in the previous year. Net earnings dropped to $734 million or $1.88 per share from $882 million or $2.15 per share reported in the prior year period. Net sales for the quarter increased to $11.236 billion from $11.039 billion generated last year.
BA opened the trade on April 1 at $34.52 and closed at $42.50 on June 30. The stock closed Tuesday's regular trade at $43.02, up $0.82 or 1.94%, on 9.17 million shares. For the past year, the stock traded in the range of $29.05-$69.50.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.