Boeing Co (BA)’s Expects More Orders for Poseidon As Pentagon Raises Order For the Aircraft

Boeing (BA)

After making record aircraft deliveries in 2014, Boeing Co (NYSE:BA)’s military aircraft has received a boost after an internal sources indicated increase in Pentagon’s fiscal budget for 2016. The U.S. Navy will order 16 maritime surveillance aircrafts against the previous estimate of 15.

Boeing P-8 Poseidon is a military aircraft and every single of these jets would cost around $256.5 million in fiscal year 2015. The Navy is said to ask for $3.4 billion for the aircraft and these jets have been deployed in pacific right from the end months of 2013. Boeing Co (NYSE:BA) has elevated productions for these military aircrafts because of expectedly higher demands.

Earlier, the aircraft maker rolled out its first Dash-9 Dreamliner aircraft built at the company’s North Charleston Campus on Monday. The company will deliver the airplane to United Airlines in March this year. Boeing Co (NYSE:BA) officials called it as an excellent effort from the workers delivering an airplane before its schedule. It is important to consider that United Airlines is one of the biggest North American customers for Dreamliners.

Boeing (BA)

Ron Baur, United Airlines’ Vice President of the Fleet, said,

“The 787-9 builds on the Dreamliner’s fuel-efficiency and customer comfort while giving us even more flexibility and range. Last year, our customers gave the 787 the highest customer-satisfaction scores of any aircraft in our fleet, and we know they’ll enjoy what the 787-9 has to offer.”

Boeing Co (NYSE:BA) is likely to announce its fourth quarter 2014 financial results today before the beginning of regular trading session. The market is expecting a year over year growth in both the revenue as well as the earnings of the company. The aircraft maker is expected to announce earnings of $2.11 for every share on overall quarterly revenues of $23.93 billion.

The shares of Boeing Co are trading at $132.48 with current P/E ratio of 18.94.

This article has been written by Prakash Pandey.

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