NEW YORK (Standard&Poor's) July 23, 2008--Standard&Poor's Ratings Services said today that Boeing Co.'s (A+/Stable/A-1) reported lower results in second quarter have no impact on its ratings or outlook on the company, given Boeing's very strong credit protection measures and ample liquidity. Boeing reported net income from continuing operations of $852 million for the second quarter ended June 30, 2008, compared with net income of $1,050 million for the same period in 2007, on flat consolidated revenues. Lower earnings in the commercial airplanes segment stemmed from customer and model mix (more single-aisle aircraft) and timing of period expenses and costs related to the 787 delays, resulting in 9.1% operating margin (11.0% in the second quarter of 2007).
