The Boeing Company
) was awarded a $34.7 million cost-plus-fixed-fee contract for
the design, development and test of the Harpoon and SLAM-ER
Weapons Systems Joint Common Test Station. This contract combines
purchases for the Government of Saudi Arabia and the Government
of Australia under the Foreign Military Sales Program.
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Work will be performed in St. Louis, Missouri, and is expected to
be completed in March 2016. The Naval Air Systems Command,
Patuxent River, Maryland, is the contracting activity.
Boeing enjoys a unique position as the largest aircraft
manufacturer in the world in terms of revenues, orders and
deliveries, and is also one of the largest aerospace and defense
contractors. Besides, its revenues are spread across more than 90
countries around the globe.
Boeing taking into account its performance in the first nine
months of 2012, raised its full year 2012 earnings per share
guidance to a range of $4.80-$4.95 from its earlier guidance
range of $4.40-$4.60. The company also raised its revenue
guidance for 2012 to the range of $80.5 billion to $82 billion
versus the earlier range of $79.5 billion to $81.5 billion.
The company expects its Commercial Airplanes' 2012 deliveries to
come between 585 and 600 airplanes, which are already sold out.
This includes an expected 70 to 85 787 and 747-8 deliveries.
Commercial Airplanes' 2012 revenue is expected to be between
$47.5 billion and $49.5 billion with operating margin around
In the defense space, the company expects defense revenue for
2012 to be between $32.5 billion and $33.0 billion versus its
earlier range of $31.5 billion and $32.0 billion with operating
margin greater than 9%. Boeing Capital Corporation expects that
its aircraft finance portfolio will continue to decline in 2012.
Boeing currently retains a Zacks #3 Rank, which translates into a
short-term Hold rating. Considering the fundamentals, we are
maintaining our Neutral recommendation on the stock. This is in
sync with other aerospace and defense behemoths,
General Dynamics Corporation
Lockheed Martin Corporation