Boeing 2012 Forecast Misses Estimates on Pensions, Defense
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Boeing Co. forecast a smaller 2012 profit than analysts estimated, dragged down by rising pension expenses and declining U.S. defense spending, as the planemaker works to boost commercial production to a record.
Full-year net income will drop to $4.05 to $4.25 a share, Boeing said in a statement today. That trailed 2011’s $5.34 and the $4.89 average of 27 estimates compiled by Bloomberg. Sales in 2012 may rise to a range of $78 billion to $80 billion, up from $68.7 billion and matching analysts’ projections.