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Boeing Q2 Profit Tops View

Boeing Co. (BA) reported that its second-quarter net earnings attributable to shareholders was $587 million or $1.00 per share compared to a loss of $2.38 billion or $4.20 per share in the prior year, reflecting higher commercial volume and lower period costs.

Core earnings per share for the quarter were $0.40 compared to a loss of $4.79 last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.72 per share for the second-quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew to $16.998 billion from $11.81 billion in the prior year, driven by higher commercial airplanes and services volume. Analysts expected revenues of $17.78 billion for the quarter.

Commercial Airplanes secured orders for 200 737 aircraft for United Airlines, 34 737 aircraft for Southwest Airlines, and a total of 31 freighter aircraft. Commercial Airplanes delivered 79 airplanes during the quarter and backlog included over 4,100 airplanes valued at $285 billion.

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