Boeing Reports Record 2018 Results and Provides 2019 Guidance

At quarter-end, Boeing Capital's net portfolio balance was $2.8 billion. Revenue in other unallocated items and eliminations decreased primarily due to the timing of eliminations for intercompany aircraft deliveries and the 2017 sale of aircraft previously leased to customers. The change in earnings from other unallocated items and eliminations is primarily due to timing of expense allocations. The effective tax rate for the fourth quarter increased from the same period in the prior year primarily due to the favorable impacts from the enactment of the Tax Cuts and Jobs Act recorded in the fourth quarter of 2017.

Outlook

Effective in the first quarter of 2019, the Company is making a change to the accounting for military derivative aircraft. Revenues and costs associated with military derivative aircraft were previously reported in the Commercial Airplanes and Defense, Space & Security segments. Beginning in 2019, all revenues and costs associated with military derivative aircraft will be reported in the Defense, Space & Security segment. An additional exhibit is included on page 15 with restated 2018 results adjusted for the change in accounting for military derivative aircraft as well as the realignment of certain programs between Global Services and Defense, Space & Security. The Company has provided this comparable information in the exhibit and below to help investors understand the 2019 financial outlook (Table 8).







Table 8. 2019 Financial Outlook



Restated


As Reported

(Dollars in Billions, except per share data)

2019


2018 Results


2018 Results







The Boeing Company






Revenue

$109.5 - 111.5











GAAP Earnings Per Share

$21.90 - 22.10





Core Earnings Per Share*

$19.90 - 20.10











Operating Cash Flow

$17.0 - $17.5B











Commercial Airplanes






Deliveries 1

895 - 905





Revenue

$64.5 - 65.5


$57.5


$60.7

Operating Margin

14.5% - 15.0%


13.6%


13.0%







Defense, Space & Security






Revenue

$26.5 - 27.5


$26.4


$23.2

Operating Margin

>11.0%


6.3%


6.9%







Global Services






      Revenue

$18.5 - 19.0


$17.1


$17.0

      Operating Margin

>15.0%


14.9%


14.8%







Boeing Capital Portfolio Size

Stable





Research & Development

~$4.1





Capital Expenditures

~$2.3





Pension Expense 2

~$0.0





Effective Tax Rate

~16%






*Non-GAAP measure; complete definitions of Boeing's non-GAAP measures are on page 6, "Non-GAAP Measures Disclosures."

1 Continues to include intercompany deliveries related to military derivative aircraft

2 Approximately $1.1 billion of pension expense is expected to be allocated to the business segments


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14  Next Page »



Review Article Be the first to review this article

Featured Video
Editorial
Roberto FrazzoliEDACafe Editorial
by Roberto Frazzoli
Special Report: Machine Learning in EDA
More Editorial  
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Remembering Jim Hogan
Colin WallsEmbedded Software
by Colin Walls
Variable declarations in C – plenty of pitfalls
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
AUGER: Celebrating Our Users
Jobs
Circuit Design & Layout Simulation Engineer - Co-Op (Spring 2021) for Global Foundaries at Santa Clara, California
Test and Measurement System Architect for Xilinx at San Jose, California
SerDes Applications Design Engineer for Xilinx at San Jose, California
Principle Engineer (Analog-Mixed-Signal Implementation) for Global Foundaries at Santa Clara, California
ASIC Engineer for Amazon at seattle, Washington
Business Operations Planner for Global Foundaries at Santa Clara, California
Upcoming Events
IPC APEX EXPO 2021 Goes Virtual at - Mar 8 - 12, 2021
ADAS Sensors 2021 at The Henry Hotel 300 Town Center Drive Dearborn MI - Apr 7 - 8, 2021
ISQED'21 - 22nd International Symposium at POB 607 Los Altos CA - Apr 7 - 9, 2021
SEMI MEMS & Sensors Industry Group (MSIG), MSTC 2021 at United States - Apr 13 - 15, 2021
Verific: SystemVerilog & VHDL Parsers



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise