Name: ボーイング2018年第2四半期決算説明会 (Boeing Earnings Call Q2 2018)
Uploaded: 2021-01-14T07:54:02.000Z
Duration: 1 h 14 min 51 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

Good day, everyone and welcome to The Boeing Company's Second Quarter of 2018 Earnings

The management discussion and slide presentation, plus the analyst and media question-and-answer

sessions are being broadcast live over the internet.

At this time, for opening remarks and introductions, I am turning the call over to Miss Maurita

Sutedja, VP of IR for The Boeing Company.

Welcome to Boeing's second quarter 2018 earnings call.

I am Maurita Sutedja, and with me today is Dennis Muilenburg, Boeing's Chairman, President

and CEO and Greg Smith, Boeing's CFO and EVP of Enterprise Performance and Strategy.

After management comments, we will take your questions.

(Operator Instructions) We have provided detailed financial information in today's press release

and you can follow the broadcast and presentation through our website at boeing.com.

Before we begin, I need to remind you that any projections and goals in our discussion

today are likely to involve risks, which is detailed in our news release, various SEC

filings and the forward-looking statement disclaimer in the presentation.

In addition, we refer you to our earnings release and presentation for disclosures and

reconciliation of non-GAAP measures that we use when discussing our results and outlook.

Now, I will turn the call over to Dennis Muilenburg.

Let me begin today with a brief overview of our second quarter operating performance followed

by an update on the business environment and our expectations going forward.

After that, Greg will walk you through the details of our financial results and outlook.

Thanks to the dedicated efforts of employees throughout our Company, Boeing delivered strong

second quarter 2018 financial results that included higher revenue and earnings and strong

operating cash flow, driven by solid execution across the Company.

During the quarter, we generated $4.7 billion of operating cash and repurchased $3.0 billion

We also paid $1.0 billion in dividends, reflecting a 20% increase in dividends per share from

We continue to deliver on our commitments returning cash to shareholders, while investing

in our people, innovation and future growth.

Revenue in the second quarter was $24.3 billion, reflecting higher volume of commercial deliveries

and favorable mix, along with services and defense contract volume.

Core earnings per share of $3.33 was driven by strong performance across the businesses,

volume and mix, and lower tax rate, partially offset by a write-off due to the previously

announced Spirit litigation outcome and cost growth on the KC-46A Tanker program, which

For the full year, we're raising guidance for revenue to reflect higher volume at BDS

Additionally, we're adjusting BCA and BDS segment operating margin guidance.

Greg will discuss these in more detail in his section.

Before we delve into the second quarter operating performance for our businesses, let me spend

We continue to make steady progress towards final certification for the KC-46 Tanker and

recently completed all flight tests required to deliver the first aircraft, which is expected

to be in October of this year as now agreed upon with the US Air Force.

This is a significant milestone for us and our customer, representing the combination

of three years of testing and over 3,300 flight hours.

However, the program did see additional cost growth in the quarter at $334 million after-tax,

primarily due to higher estimated cost of incorporating changes into six flight tests

and two early build aircraft, as well as additional costs as we progress through the late-stage

Regarding these flight test and early build aircraft, as flight testing to support the

first delivery was completed, and final configuration of each aircraft has been defined, the plan

to complete manufacturing of these eight aircraft is now clear and firmed up.

While there's still a lot of work ahead of us, we now have a very clear line of sight

what is needed to deliver these highly mission-capable aircraft to our customer.

We remain confident in the long-term value of this franchise, a program that is going

to have a production run measured in hundreds of airplanes and decades of follow-on support

With that, now let's look at Commercial Airplanes.

For the quarter, Commercial Airplanes generated revenue of $14.5 billion, reflecting 194 deliveries

Continued healthy sales activity contributed to 239 net new airplane orders or $16 billion

during the quarter, including 91 widebody orders adding to our robust backlog that stands

at nearly 5,900 airplanes and is worth $416 billion.

Year-to-date, we have captured over 900 net new orders and commitments.

The 737 MAX program marked it's one year anniversary of entering revenue flight service in the

quarter and its production ramp-up continued.

To date, we have delivered 162 MAXs, with 52 of them delivered in the quarter.

As for the 777X program, in the quarter we moved the first two test airplanes into the

low-rate initial production line in the main factory.

We also began the systems testing for this exciting development program.

We'll remain on track for first 777X delivery in 2020.

BDS reported second quarter revenue of $5.6 billion, reflecting the Kuwait F/A-18 production

contract award and higher weapons volume with operating margins of 9.3%.

The $7 billion of new orders booked by BDS during the quarter demonstrates the value

we bring to our customers across their defense, space & security portfolio.

These orders included finalization of the production contract for 28 F/A-18 Super Hornets

to Kuwait, an additional order for 18 F/A-18 Super Hornets for the US Navy and three P-8

Poseidon aircraft for the US Navy, as well as a multi-year contract for 58 V-22 Osprey

Key milestones for BDS included induction of the first F/A-18 aircraft into the Service

Life Modification program, two successful tests for the US Air Force's Minuteman III,

and production of the 100th P-8 aircraft.

On the commercial satellite side, we successfully completed the O3b mPOWER preliminary design

Turning to Global Services, our integrated services business completed its first full

year of operation at the end of the quarter.

BGS reported second quarter revenue of $4.1 billion with operating margins of 14.7%, reflecting

higher volume along with product and services mix.

During the quarter, BGS won new business totaling approximately $4 billion that demonstrates

the value that we bring to our broad range of commercial and government customers.

These included in an F/A-18 depot maintenance contract for the US Navy and Marine Corps,

a Global Fleet Care contract for Primera Air's 737 fleet, and performance-based logistics

字幕リスト動画再生

ボーイング2018年第2四半期決算説明会 (Boeing Earnings Call Q2 2018)

discipline

approach

significant

strategy