Boeing 2010 Year-End Earnings Liveblog

7:30 AM ET: Boeing has released its fourth quarter and full year 2010 earnings. The company says it expects to delivery between 25 and 40 747-8 and 787 aircraft in 2011. Further live blogged coverage of the company’s earnings call will begin here at 10:15 AM and on twitter. Please follow @flightblogger & @thedewline for coverage and live analysis of Boeing’s commercial and defense businesses.

8:18 AM ET: Boeing shares are down around $3.25 in pre-market trading on the 35% drop in fourth quarter profit and overall 8% decline in full-year revenue due to research and development expenditures for its 787 and 747-8 programs, as well as lower deliveries from a year ago. This comes despite a $3.3 billion in full-year 2010 profit up 152% over the previous year.

9:06 AM ET: A quick closer look at Boeing’s estimate for the 25-40 747-8 and 787 deliveries in 2011. Currently, 747-8 production is running somewhere in the neighborhood of 1.5 airplanes per month, heading to 2/month in 2012, with 10-12 production aircraft already built. Based on these figures, Boeing could deliver (at most) 30 747-8Fs this year, but this assumes a very low level of post-certification rework required on these aircraft.

4 Responses to Boeing 2010 Year-End Earnings Liveblog

  1. RobH January 26, 2011 at 12:16 pm #

    Jon, had Boeing ever acknowledged the 777-8 and -9 refresh until now?

    And I know they hold their cards close when it comes to 737RS, but a 2020EIS means they offer the jet ~4 years from now, based on a 5-year development cycle. That, in conjunction with the 787-10, 777-8 and -9: They say they’re cutting back on R&D this decade?

  2. iamlucky13 January 26, 2011 at 1:03 pm #

    RobH – I’m not watching the earning’s call, and don’t see Jon having mentioned it yet – did you hear something about a 777-8 and 777-9 on the earning’s call?

    I’m a little surprised how much of a beating the stock took this morning. The 4th quarter results were actually a little better than I expected, considering the 737 and 777 ramp ups haven’t yet really increased revenue, and there’s a lot of money not being generated by the 747-8 and 787. I guess that’s just because I still expect some degree of rationale in the market, which doesn’t necessarily apply to the short term.

  3. Kurt Brown January 26, 2011 at 4:02 pm #

    Re rationality in the market:

    It’s only to be found, if at all, over the long term.

    In the short term (i.e. hourly, daily, weekly, even monthly swings) should be taken with a giant boulder of salt. 75% of trades on stock exchanges are controlled by computers nowadays. While computer programs are not “emotional” – they are not all that smart. Well, they’re probably as smart as all the human financial wizards that “couldn’t possibly have seen the 2008 collapse coming.”

  4. Dan January 26, 2011 at 7:47 pm #

    Any chance of a B787 flying to Australia in March, as part of ETOPS testing, for the Australian International Airshow in Avalon???