Boeing Co. (NYSE: BA), an Illinois-based aerospace giant engaged in the manufacturing of commercial jet aircraft as well as provides related support services to the commercial airline industry worldwide, reported results for the third quarter ended Sep 30, 2012.
BA’s consolidated revenue for the quarter increased by 13% to $20,008 million from that of $17,727 million reported in the third quarter of 2011. Operating Income fell 9% to $1,564 million from that of $1,714 million reported last year. Net income attributable to common shareholders fell 6% to $1,032 million from $1,098 million. Net cash from operations for the nine months ended Sep 2012 was $3,341 million.
Revenues Commercial Airplanes segment were up 28% while those from Defense, Space & Security were down by 4%. The number of deliveries under Commercial Airplanes segment increased to 149 from 127. The increase in revenues from Commercial Airplanes Segment was offset partially by the decrease in revenues from Defense, Space & Security Segment, Boeing Capital and other segment.
The 9% drop in operating income reflected the impact of decreased operating margins to 7.8% from 9.7%, increased cost of input products and increased general and administrative expenses. Increased earnings at Commercial Airplanes and Defense, Space & Security were more than offset by higher pension expense of $194 million
As on Sep 30, 2012, Boeing had total assets of $83,654 million including $6,582 million worth of cash and its equivalents. Total liabilities were $75,972 million, among which 56% were current. Total stockholders’ equity was $7,682 million.
BA’s shares have been gaining in trading today as investors digested the company’s quarterly results. The stock has been trading in the range of $73.2 and $75. At the last check, the stock was trading 1.41% higher at $73.8440, with volume down from its daily average of 4.73 million to 3.77 million.
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