Wed, Jul 23, 2008
Carson Expresses Confidence Ahead Of Q2 Earnings Release
Boeing is due to release
second-quarter financials Wednesday. Bloomberg reports investors
and industry analysts will be watching closely to see if the
confidence exuded by the company last week at Farnborough is
softened any by the numbers.
After rival Airbus told investors it thought it might lose as
much as 27 percent of its $557 billion order backlog to problems in
the airline industry, Boeing Commercial Airplanes CEO Scott
Carson (right) said he didn't anticipate that level of
cancellations at Boeing. At one point he told investors, "we have
enough of a backlog that we could maybe build through until the
next order cycle."
Bloomberg found analysts hesitant to share Carson's enthusiasm,
at least until the 787 Dreamliner program is back on track, and the
US Air Force's KC-X tanker controversy is resolved. "Boeing seems
completely cocky about how their situation is," noted Macquarie
Capital analyst Rob Stallard.
Boeing shares have fallen by more than a third in the past year
as airlines have folded, and some which remain have cancelled or
deferred orders, or decided to order less-expensive narrowbodies
rather than twin-aisle jets. Both are trends which concern
investors.
Or, as Baltimore-based Credit Suisse analyst Robert Spingarn
noted dryly in a note Monday to investors, "Management generally
appears to be more relaxed on the outlook than investors."
In any case, the numbers will have it. Stay tuned.
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