Boeing reports full year revenue of $96bn
Boeing has reported fourth-quarter revenue of $23.6 billion and core earnings per share of $1.60.
Fourth quarter 2015 results reflect the previously announced $569 million after-tax charge ($0.84 per share) on the 747 program as a result of a slow recovery in the air cargo market which was partially offset by solid core operating performance across the company.
GAAP earnings per share was $1.51.
Revenue rose six percent in the full year to a record $96.1 billion reflecting record commercial deliveries.
Core earnings per share totalled $7.72 for the full year, reflecting the KC-46 Tanker (quarter two) and 747 program (quarter four) charges ($1.61 per share) partially offset by strong core operating performance across the company.
GAAP earnings per share totalled $7.44 for the full year.
Core earnings per share guidance for 2016 is set at between $8.15 and $8.35, while GAAP earnings per share is established at between $8.45 and $8.65.
Revenue guidance is between $93 and $95 billion, including commercial deliveries of between 740 and 745.
Operating cash flow is expected to be approximately $10 billion.
"Building on our foundation of solid core operating performance and customer focus, Boeing extended its leadership of the aerospace industry in 2015 with record deliveries and revenues in commercial airplanes, and solid sales and healthy margins in our defence and space business.
"We also generated significant cash flow to fuel investments in innovation and our people, and provide compelling returns to our shareholders," said Boeing president Dennis Muilenburg.
"With clear strategies and strong positions in our markets, a large and diverse order backlog worth nearly $500 billion, and multiple additional production rate increases planned yet this decade, we are well positioned for profitable growth and higher cash flow as we move into our second century in business."
Muilenburg added: "Our priorities for 2016 and beyond are to build on our existing strengths to deliver on current plans and commitments, and to stretch beyond them by accelerating progress on key enterprise growth and productivity initiatives, investing in our team, and creating more value and opportunity for our customers, shareholders and employees."
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