The Boeing Company (BA) overcame market pessimism, showing hardiness in its core businesses with second quarter fiscal 2010 earnings of $1.06 per share, outpacing the Zacks Consensus Estimate of $1.01. The company’s results exhibit solid performance across its core businesses amid lower volumes. However, the company, like its defense peer Lockheed Martin Corporation (LMT) fell short of year-ago earnings. Last year, Boeing reported earnings of $1.41 for the corresponding period. The street was anxious of Boeing’s ability to recover since its commercial airplane deliveries were badly affected by cancellation and deferment from customers absorbing the after-shocks of the worldwide recession. As a result, Boeing’s quarterly revenue declined 9.2% year-over-year to $15.6 billion, lower than the Zacks Consensus Estimate of $16.4 billion. Segmental Results Commercial Airplane Boeing’s Commercial Airplane segment in the reported quarter saw a stark 9% drop in deliveries to 114 units. A lower number of 737 and…

July 28th, 2010
Money maker
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