Boeing Reports Strong 2009 Revenue & Cash Flow on Solid Core Performance

Boeing Defense, Space & Security

Boeing Defense, Space & Security's fourth-quarter revenue rose 6 percent to $8.5 billion on increased military aircraft deliveries and higher volume in services.  Operating margins were 9.7 percent reflecting strong performance in Boeing Military Aircraft and Global Services & Support partially offset by additional costs on the Airborne Early Warning and Control (AEW&C) program which reduced margins by 1.6 points (Table 5).  

For the full year, revenue increased by 5 percent to $33.7 billion on growth in Global Services & Support and Boeing Military Aircraft segments.  Operating earnings grew 2 percent to $3.3 billion, producing operating margins of 9.8 percent.  

Table 5.  Boeing Defense, Space & Security Operating Results


Fourth Quarter


Full Year


(Dollars in Millions)

2009

2008

Change

2009

2008

Change








Revenues







  Boeing Military Aircraft

$3,733   

$3,142   

19%

$14,057   

$13,311   

6%

  Network & Space Systems

$2,385   

$2,861   

(17%)

$10,877   

$11,346   

(4%)

  Global Services & Support

$2,429   

$2,038   

19%

$8,727   

$7,390   

18%

Total BDS Revenues

$8,547   

$8,041   

6%

$33,661   

$32,047   

5%








Earnings from Operations







  Boeing Military Aircraft

$353   

$348   

1%

$1,513   

$1,277   

18%

  Network & Space Systems

$141   

$228   

(38%)

$839   

$1,034   

(19%)

  Global Services & Support

$335   

$305   

10%

$947   

$921   

3%

Total BDS Earnings from Operations

$829   

$881   

(6%)

$3,299   

$3,232   

2%








Operating Margins

9.7%

11.0%

 (1.3)Pts

9.8%

10.1%

  (0.3)Pts











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