Total company backlog at quarter-end was $474 billion, down from $482 billion at the beginning of the quarter, and included net orders for the quarter of $16 billion.
Segment Results
Commercial Airplanes
|
Table 4. Commercial Airplanes |
Third Quarter |
Nine Months |
||||||||||||||||
|
(Dollars in Millions) |
2017 |
2016 |
Change |
2017 |
2016 |
Change |
||||||||||||
|
Commercial Airplanes Deliveries |
202 |
188 |
7% |
554 |
563 |
(2)% |
||||||||||||
|
Revenues 1 |
$14,982 |
$15,200 |
(1)% |
$41,263 |
$43,630 |
(5)% |
||||||||||||
|
Earnings from Operations 1 |
$1,483 |
$1,293 |
15% |
$3,648 |
$804 |
354% |
||||||||||||
|
Operating Margin 1 |
9.9% |
8.5% |
1.4 Pts |
8.8% |
1.8% |
7.0 Pts |
||||||||||||
|
1 Prior year results have been adjusted to reflect the realignment of the services business |
Commercial Airplanes third-quarter revenue was $15.0 billion on planned production rates and delivery mix (Table 4). Third-quarter operating margin increased to 9.9 percent, reflecting higher 787 margins and strong operating performance on production programs, partially offset by additional cost growth of $256 million on the KC-46 Tanker program due to incorporating changes into initial production aircraft as we progress through late-stage testing and the certification process.
During the quarter, Commercial Airplanes delivered a record 202 airplanes, including 24 737 MAX 8 airplanes. The production rate increased to 47 per month on the 737 program, and we confirmed plans to increase the 787 production rate to 14 per month in 2019. Development on 777X is on track as production began on the first complete wing for structural test.
