Boeing Reports Strong 2009 Revenue & Cash Flow on Solid Core Performance

(PRNewswire) —

Fourth-Quarter 2009

  • Revenue grew to $17.9 billion and operating margin grew to 9.4 percent, driving net income to $1.75 per share
  • Operating cash flow increased to $3.2 billion

Full-Year 2009

  • Revenue grew to $68.3 billion while earnings reflected solid core operating performance affected by previously announced events
  • Operating cash flow of $5.6 billion reflects strong management of working capital
  • Cash and marketable securities of $11.2 billion provides strong liquidity for 2010
  • Backlog of $316 billion – over four times current annual revenue

Outlook

  • 2010 EPS guidance of $3.70 to $4.00 reflects lower volumes and considers risks

Table 1.  Summary Financial Results


Fourth Quarter


Full Year


(Dollars in Millions, except per share data)

2009

2008

Change 

2009

2008

Change 








Revenues

$17,937   

$12,664   

42%

$68,281   

$60,909   

12%

Earnings/(Loss) From Operations

$1,693   

($243)  

NA

$2,096   

$3,950   

(47%)

Operating Margin

9.4%

(1.9%)

  11.3 Pts

3.1%

6.5%

 (3.4)Pts

Net Income/(Loss)

$1,268   

($86)  

NA

$1,312   

$2,672   

(51%)

Earnings/(Loss) per Share

$1.75   

($0.12)  

NA

$1.84   

$3.67   

(50%)

Operating Cash Flow

$3,212   

($1,641)  

NA

$5,603   

($401)  

NA



The Boeing Company (NYSE: BA) reported fourth-quarter net income of $1.3 billion , or $1.75 per share, as revenue rose 42 percent to $17.9 billion .  Current period results reflect solid performance across core businesses and represent a significant improvement over the year-ago quarter, which included a labor strike and a charge on the 747 program (Table 1).  

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