Boeing - Stunning Q1 2006 results. EPS grows 33%

Boeing's CEO Jim McNerney told me today," that Boeings backlog was a record US$213 up 42% from a year ago., 1022 aircraft orders won in 2005 and 176 in Q1."

The results published later today are impressive ...First-quarter EPS increased by a sizzling 33 % to US$0.88 as net income grew 29 percent to US$692 million.Revenue grew a whopping 12% to US$14.3 Bn. while operating cash flow increased 46 percent to US$2.1 Bn.Earnings from operations rose 40 percent to $959 million .

Jim also confirmed its 2006 outlook for revenue of $60 billion and earnings of $3.25 to $3.45 a share; it also backed a 2007 revenue estimate of $63.5 billion to $64.5 billion and an earnings estimate of $4.10 to $4.30 a share.

The next big hurdle Jim says is an important U.S. Air Force air-to-air tanker refueling contract, a deal Boeing once had in hand until an untidy ethics blow-up cost them the work, against a team from Airbus and Northrop Grumman.

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