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Boeing's profit hit by tanker charge

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Boeing Co reported a nearly 9 per cent fall in quarterly profit, hurt by an after-tax charge related to the KC-46 aerial refueling tanker it is developing for the US Air Force.

[NEW YORK] Boeing Co reported a nearly 9 per cent fall in quarterly profit, hurt by an after-tax charge related to the KC-46 aerial refueling tanker it is developing for the US Air Force.

The world's largest plane maker earned US$1.22 billion, or US$1.83 per share, in the first quarter ended March 31, compared with US$1.34 billion, or US$1.87 per share, a year earlier.

The company recorded a tanker charge of US$156 million or 24 cents per share in the quarter.

Core earnings, which exclude pension and other costs, fell to US$1.74 per share from US$1.97.

Revenue rose about 2 per cent to US$22.63 billion.

Commercial aircraft deliveries fell 4.3 per cent to 176.

REUTERS