Once again it is as much war as it is peace (or a new taxpayer-subsidized commercial airliner being built in Everett) that keeps Boeing in the big bucks. The Lazy B this week reported a $1.1 billion third quarter profit, up more than 60 percent over the same period last year. News stories focused on the upswing on the commercial side (which may downswing next year with the expected delays in delivering the new 787).
While that side drives the company's stock, investors also take comfort in the steady beat of defense contracts which today account for almost half of Boeing's income: Of the more than $16 billion quarterly revenue, commercial earned $8.26 billion and defense brought in $8.01 billion.
Standard & Poor's now considers Boeing stock a "buy," but not merely because of the 787: "We see Boeing's defense business doing well, with potential for a large win on the Air Force's new tanker plane," says a new S&P analysis. War, what is it good for? Boeing.