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Boeing Q2 profit falls YOY

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Boeing Q2 profit falls YOY

Boeing Co. said its normalized net income for the second quarter came to $1.45 per share, compared with the S&P Capital IQ consensus estimate of $1.38 per share.

In the prior-year period, the per-share result came in at a profit of $1.45.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.01 billion, a decline of 5.4% from $1.07 billion in the prior-year period.

The normalized profit margin dropped to 4.1% from 4.9% in the year-earlier period.

Total revenue increased 11.3% on an annual basis to $24.54 billion from $22.05 billion, and total operating expenses increased 12.7% on an annual basis to $22.91 billion from $20.32 billion.

Reported net income fell 33.0% from the prior-year period to $1.11 billion, or $1.59 per share, from $1.65 billion, or $2.24 per share.