Boeing Commercial Airplanes reports 3Q performance

Boeing Commercial Airplanes (BCA) has announced its delivery figures, revenues and operating margin for the third quarter of 2016 (3Q16) and well as for the first nine months of the calendar year.

During 3Q16 BCA delivered 188 aircraft, compared with 199 in 3Q15, a decrease of 6%. Revenues during the quarter totalled $16,973 million, a 4% decrease from 3Q15’s figure of $17,692 million.

The company’s earnings from operations were $1,597 million, compared with $1,768 million, down 10% year over year. The operating margin in 3Q16 was 9.4%, down 0.6 percentage points from 10.0% in 3Q15.

In nine months to the end of September 2016, BCA delivered 563 aircraft, which was 3% fewer than the 580 aircraft delivered in 2015. Revenues for the nine months totalled $48,828 million, a drop of 2% from the $49,950 million achieved in the first nine months of 2015.

Earnings from operations in the first nine months were down 64% to $1,657 million from $4,591 million year over year. The operating margin for the nine month period this year was 3.4%, compared with 9.2% last year, a fall of 5.8 pp.

During the quarter, BCA began production of the 500th 787 Dreamliner, completed service ready validation of the 737 MAX 8, and began production of the 737 MAX 9. The 737 programme now has more than 3,300 orders for the 737 MAX since launch and the company says it remains on track to raise the production rate to 47 per month in the third quarter of 2017.

BCA booked 107 net orders during 3Q16, thus maintaining a strong backlog of more than 5,600 aeroplanes valued at $409 billion.

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