Almasalla- Arab Travel Portal News – US aircraft manufacturer Boeing has reported 2016 fourth-quarter revenue of $23.28 billion, down 1 per cent compared with revenues of $23.57 billion over the same period of 2015.
Earnings per share reached $2.59 during the period reflecting overall solid execution on production programs and services.
Revenue was $94.6 billion for the full year reflecting strong commercial deliveries and services growth across the company.
GAAP earnings per share totalled $7.61 and core earnings per share totalled $7.24. Guidance for 2017 is set at between $10.25 and $10.45 for GAAP earnings per share and between $9.10 and $9.30 for core earnings per share (non-GAAP).
Revenue guidance is between $90.5 and $92.5 billion, including increased commercial deliveries of between 760 and 765.
Operating cash flow is expected to increase by approximately $250 million to $10.75 billion .
.And capital expenditures are expected to decline by approximately $300 million to $2.3 billion
“With solid fourth quarter operating performance and a sharp strategic focus, we extended our aerospace market leadership in our centennial year and positioned Boeing for continued growth and success in our second century,” said chairman, president and chief executive Officer Dennis Muilenburg.
“We led the industry in commercial airplane deliveries for the fifth consecutive year, achieved healthy sales in our defence, space and services segments.
and produced record operating cash flow.
which fuelled investment in innovation and our people and generated significant returns to shareholders.”
“Looking forward, our team is intent on accelerating productivity and program execution to deliver increasing cash .
and profitability from our large and diverse order backlog of nearly $500 billion, standing up our new integrated services business.
And capturing an even greater share of the growing global aerospace market to deliver superior value to our customers, shareholders and employees.”
Operating cash flow in the quarter of $2.8 billion was driven by solid operating performance.
disciplined cash management, and a slight impact from timing of receipts and expenditures (Table 2).
During the quarter, the company repurchased 3.7 million shares for $500 million and paid $672 million in dividends.
Based on strong cash generation and confidence in the company’s outlook.
the board of directors in December increased the quarterly dividend per share by 30 per cent and renewed the share repurchase program to $14 billion.
Share repurchases under the new authorization are expected to be made over the next 24 to 30 months.
Commercial airplanes Commercial airplanes fourth-quarter revenue increased to $16.2 billion on higher planned delivery volume and mix. Fourth-quarter operating margin was 9.1 per cent, reflecting delivery mix, lower R&D and improved performance, partially offset by a $243 million pre-tax charge on the KC-46 Tanker program primarily related to additional effort to incorporate previously identified changes into initial production aircraft.
The 737 program has captured more than 3,600 orders for the 737 MAX, including recent 737 MAX 8 orders from GE Capital Aviation Services for 75 airplanes and SpiceJet for 100 airplanes.
Backlog remains strong with more than 5,700 airplanes valued at $416 billion.