Boeing Gives Cautious 2010 Outlook For 787 Delays
MINNEAPOLIS (AP) — Boeing is giving a cautious outlook for 2010 after dealing with program delays and declining orders in 2009.
The airplane maker and defense contractor expects to earn $3.70 to $4 per share. Wall Street analysts were expecting $4.26.
Boeing says the guidance accounts for lower production of its 777 aircraft, some smaller defense programs, and "market risks." Airlines have struggled during the recession, and aircraft orders have fallen.
Boeing posted a fourth-quarter profit of $1.27 billion on Wednesday, reversing an $86 million loss from a year ago. The profit equaled $1.75 per share, ahead of analyst expectations.
Quarterly revenue rose 42 percent to $17.94 billion.
Boeing also plans to fly its new 747-8 "in the near future."