Boeing Company (the) · NYSE:BA
Boeing Company (the) — The Boeing Company — Q2 2016 Earnings Presentation
12 slides from Boeing Company (the)'s earnings presentation, Jul 27, 2016
Slide 1: Second-Quarter 2016 Performance Review
Second-Quarter 2016 Performance Review Dennis Muilenburg Chairman, President and Chief Executive Officer Greg Smith Chief Financial Officer Executive Vice President, Corporate Development & Strategy July 27, 2016 Copyright © 2016 Boeing. All rights reserved.
Slide 2: Second-Quarter Summary
Second-Quarter Summary Boeing | Investor Relations Strong commercial deliveries and solid underlying operating performance Generated $3.2B of operating cash; completed $2B share repurchase Results reflect 787 R&D reclassification and 747 and KC-46 Tanker charges Continued focus on cost reduc
Slide 3: Business Environment
Business Environment Boeing | Investor Relations Global economic growth continues at a moderate pace Solid passenger traffic; air cargo market remains weak Airline profitability driving healthy demand for aircraft Commercial aviation remains long-term growth industry Stabilizing U.S. defen
Slide 4: Second-Quarter Revenue and Earnings
Second-Quarter Revenue and Earnings Boeing | Investor Relations Revenue (Billions) Core Earnings/(Loss) per Share * $2.79 $30 $3.00 Adjusted $2.39 Adjusted $24.5 $24.8 $2.50 $25 KC-46 Tanker 787 R&D $2.00 Charge Reclassification ($0.77) ($1.33) $20 747 Charge $1.50 ($1.28) $1.62 KC-46 Tanker $15 $1.
Slide 5: Commercial Airplanes Revenues & Operating Margins
Commercial Airplanes Boeing | Investor Relations Revenues & Operating Margins Delivered 199 airplanes $20 18% $17.5 Revenue (billions) $16.9 15% Orders valued at $11B; robust backlog of $417B $15 12% Margin 9% $10 6% 7.1% – Won 152 net orders $5 3% 0% (5.6%) -3% Opened 777X Composite Wing Cent
Slide 6: Defense, Space & Security Revenues & Operating Margins
Defense, Space & Security Boeing | Investor Relations Revenues & Operating Margins Capturing new and follow-on business $9 $7.5 18% Revenue (billions) $7.2 15% Margin $6 12% – Order for 12 H-47 Chinook aircraft for the Netherlands 9% $3 8.3% 6% – Contract award for 24 Qatar AH-64E Apache aircraft
Slide 7: Cash Flow
Cash Flow Boeing | Investor Relations Solid operating performance $ Billions 2Q15 2Q16 Net Earnings/(Loss) 1.1 (0.2) Continuing to drive disciplined cash management Depreciation/non-cash 0.6 0.6 Working Capital 1.6 2.8 Repurchased 15 million shares in 2Q16 for $2 billion and paid $0.7 Operatin
Slide 8: Cash and Debt Balances
Cash and Debt Balances Boeing | Investor Relations S&P: A Boeing debt Cash Moody’s: A2 Marketable Securities Fitch: A BCC debt Billions Billions $15 $10 $8.7 $12 $8 $7.6 $9.3 $9 $8.4 $6 $6 $4 8.6 7.9 $2.4 $2.3 $3 $2 $0 0.5 0.7 $0 2016 Q1 2016 Q2 2016 Q1 2016 Q2 Strong liquidity with manageable debt
Slide 9: Financial Guidance
Financial Guidance Boeing | Investor Relations 2016 Revenue $93.0 – 95.0B $6.10 – 6.30 * Core EPS $8.15 – 8.35 Operating Cash Flow ~$10B * Non-GAAP measure. Definitions, reconciliations, and further disclosures regarding this non-GAAP measure are provided in the company’s earnings press release date
Slide 10: Caution Concerning Forward-Looking Statements
Caution Concerning Forward-Looking Statements Boeing | Investor Relations This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,”
Slide 11: Copyright © 2016 Boeing. All rights reserved.
Copyright © 2016 Boeing. All rights reserved.
Slide 12: Non-GAAP Measure Disclosure
Non-GAAP Measure Disclosure Boeing | Investor Relations The Boeing Company and Subsidiaries Reconciliation of Non-GAAP Measures (Unaudited) The tables provided below reconcile (i) core earnings/(loss) per share and (ii) core earnings per share excluding reclassification and charges, in each case wit