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Lower Taxes, Better Operating Results Boost Boeing’s First Quarter Earnings As Sales Fall

Cal Biesecker By
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Lower Taxes, Better Operating Results Boost Boeing’s First Quarter Earnings As Sales Fall
Boeing President and CEO Dennis Muilenburg. Photo: Boeing

Boeing [BA] on Wednesday reported higher net income in the first quarter due a lower tax rate and improved operating margin in its commercial aircraft segment while sales fell on declines in its defense segment.Net income in the quarter was $1.5 billion $2.34 earnings per share (EPS), up 19 percent from $1.2 billion ($1.83 EPS) a year ago. Excluding pension expenses, core per share earnings were $2.01 EPS, six cents better than consensus estimates.The better than expected per share earnings…

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