Total company backlog at quarter-end was $495 billion, down from $502 billion at the beginning of the year, and included net orders for the quarter of $15 billion.
Segment Results
Commercial Airplanes
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Table 4. Commercial Airplanes |
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First Quarter |
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(Dollars in Millions) |
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2015 |
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2014 |
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Change | |||||
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Commercial Airplanes Deliveries |
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184 |
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161 |
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14% | |||||
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Revenues |
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$15,381 |
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$12,737 |
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21% | |||||
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Earnings from Operations |
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$1,617 |
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$1,502 |
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8% | |||||
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Operating Margin |
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10.5% |
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11.8% |
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(1.3) Pts | |||||
Commercial Airplanes first-quarter revenue increased 21 percent to $15.4 billion on higher delivery volume and mix (Table 4). First-quarter operating margin was 10.5 percent, reflecting the dilutive impact of higher 787 deliveries.
During the quarter, Commercial Airplanes captured orders for 52 737 MAX airplanes. The 737 program has won over 2,700 firm orders for the 737 MAX since launch. Also during the quarter, the company opened a new Propulsion Systems facility at Boeing South Carolina that will initially support the 737 MAX and 777X, delivered the first Boeing South Carolina-built 787-9 Dreamliner and received 330-minute ETOPS certification on the 747-8 Intercontinental.
Commercial Airplanes booked 110 net orders during the quarter. Backlog remains strong with over 5,700 airplanes valued at $435 billion.
Defense, Space & Security
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Table 5. Defense, Space & Security |
First Quarter |
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(Dollars in Millions) |
2015 |
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2014 |
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Change | |||||
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Revenues1 |
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Boeing Military Aircraft |
$2,744 |
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$3,455 |
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(21)% | |||||
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Network & Space Systems |
$1,732 |
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$1,876 |
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(8)% | |||||
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Global Services & Support |
$2,233 |
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$2,302 |
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(3)% | |||||
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Total BDS Revenues |
$6,709 |
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$7,633 |
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(12)% | |||||
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Earnings from Operations 1 |
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Boeing Military Aircraft |
$261 |
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$332 |
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(21)% | |||||
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Network & Space Systems |
$167 |
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$168 |
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(1)% | |||||
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Global Services & Support |
$315 |
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$278 |
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13% | |||||
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Total BDS Earnings from Operations |
$743 |
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$778 |
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(4)% | |||||
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Operating Margin |
11.1% |
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10.2% |
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0.9 Pts | |||||
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1 During the first quarter of 2015, certain programs were realigned between Boeing Military Aircraft and Global Services & Support. |
