CHICAGO | Wed april 27, 2011 12: 13 am EDT
CHICAGO (Reuters)-Boeing Co. Wall Street expected a first quarter earnings in line with year ago results report on Wednesday, while investors will be on alert for confirmation that the long-delayed 787 Dreamliner finally on track.
"Obviously, I think everyone is focused on where we are with certification for the 787," said Kenneth Herbert, an analyst at Wedbush Securities.
He also said experts will be interested in the expected changes in the rate of production of the Dreamliner. Boeing has taken about 850 orders for the lightweight carbon composite aircraft.
The 787 is about three years behind the original schedule, but is set for the first delivery in the third quarter of this year.
Aerospace industry experts will also search for clues Boeing will redesign its hot-selling 737 narrow body airliner or simply a more fuel-efficient engine in the next version.
A revamped 737 would save more fuel but would take longer to market. Boeing has said that her direction this summer can share.
Analysts expect Boeing report a first quarter earnings of 70 cents per share, unchanged from a year ago, according to Thomson Reuters I/B/E/s. revenue 15.13 billion dollars.
Boeing, which competes with EADS unit Airbus, splits its business almost evenly between commercial aircraft and defense products, but the stock tends to more closely track of commercial orders and deliveries.
Boeing said this month that the 104 commercial aircraft in the first quarter, including 87 737s, four 767 widebodies and 13 777s delivered. Aircraft manufacturers only paid upon delivery, usually at least 18 months after purchase.
The commercial aircraft industry is recovering from a global economic downturn that saw airlines curb orders in recent years.
The company is due to release its earnings at 7: 30 pm EDT (1130 GMT) on Wednesday.
Shares of Boeing, a component of the Dow Jones industrial average, have about 15 percent since the beginning of 2011.
(Reporting by Kyle Peterson; Edit by Gary Hill)
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