Boeing reports record 2018 results

Posted on 17 Feb 2019 and read 710 times
Boeing reports record 2018 resultsBoeing has reported 2018 fourth-quarter revenues of $28.3 billion and a record $101.1 billion for the full year. The company also had a cash-flow of $2.9 billion in the final quarter ($15.3 billion for the full year), re-purchased
1.6 million shares for $0.6 billion, paid $1.0 billion of dividends and completed the acquisition of KLX Aerospace Solutions.

Boeing chairman Dennis Muilenburg said: “Across the enterprise, our team delivered strong core operating performance and customer focus, driving record revenues, earnings and cash-flow and further extending our global aerospace industry leadership.

"Our financial performance provided a firm platform to further invest in new growth businesses, innovation and future franchise programmes, as well as in our people and enabling technologies.

In the last five years, we have invested nearly $35 billion in key strategic areas of our business, all while increasing cash returns to shareholders.

“Our One Boeing focus, our clear strategies for growth and our leading positions in large and growing markets give us confidence for continued strong performance, revenue expansion and solid execution across our three businesses; this is reflected in our 2019 guidance.”

The total company order book at the quarter-end was relatively unchanged at $490 billion and included net orders for the quarter of $27 billion.

During the last quarter, Commercial Airplanes delivered 238 airplanes, including the 787th 787 Dreamliner and the first 737 MAX Business Jet.

The 737 programme delivered 111 MAX airplanes in the fourth quarter, including the first MAX delivery from the China Completion Center.

Commercial Airplanes booked 262 net orders during the quarter, valued at $16 billion. The order book remains robust, with nearly 5,900 airplanes valued at $412 billion.

Defense, Space & Security fourth-quarter revenue increased to $6.1 billion; this included contracts for the second KC-46 Tanker to Japan, a joint ground system to provide tactical satellite communications for the US Air Force, and the modernising of 17 Chinooks for Spain.

The order book at Defense, Space & Security was $57 billion, of which 30% represents orders from customers outside the USA.

Meanwhile, the US Navy has awarded Boeing a $2.4 billion production contract for the next 19 P-8A Poseidon aircraft (pictured).

This comprises 10 aircraft to add to the current inventory of P-8As in the US Navy fleet, all five jets currently under contract for Norway, and the four aircraft remaining for the existing UK contract, bringing the total UK acquisition to nine aircraft.

The P-8 is a long-range multi-mission maritime patrol aircraft capable of broad-area, maritime and littoral operations.

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