Boeing (BA) Misses Q1 EPS by 9c

Boeing (NYSE: BA) reported Q1 EPS of $1.74, $0.09 worse than the analyst estimate of $1.83. Revenue for the quarter came in at $22.6 billion versus the consensus estimate of $21.44 billion.

"Higher year-over-year deliveries of military aircraft and continued solid operating performance on core production programs drove revenue growth and strong cash flow for Boeing in the first quarter," said Chairman, President and Chief Executive Officer Dennis Muilenburg. "This performance enabled our ongoing investments in new product innovation and in our people, and the return of significant cash to shareholders through stock repurchases and dividends."

"Overall, we are pleased with our performance trends and our outlook for the year remains positive. On the tanker program, we are making the investments necessary to meet our customer commitments, deliver the initial production aircraft on schedule, and transition the program into full production," said Muilenburg.

"Our teams are focused intensely on delivering on our existing commitments including the production ramp-up associated with our large and diverse backlog, accelerating progress on quality, safety and productivity improvements company wide, returning greater value to shareholders through profitable growth, and investing in the future as we enter our second century in business."

Boeing reaffirmed FY2016 guidance.

For earnings history and earnings-related data on Boeing (BA) click here.

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