Exhibit 99.1

		News Release
		Boeing Corporate Offices 100 North Riverside Plaza Chicago, IL 60606-1596 www.boeing.com

Boeing Reports Second-Quarter Results and Raises 2012 EPS Guidance

Table 1. Summary Financial Results

* Non-GAAP measure. Complete definitions of Boeing's use of non-GAAP measures, identified by an asterisk (*), are found on page 7, "Non-GAAP Measure Disclosures."

CHICAGO, July 25, 2012 – The Boeing Company [NYSE: BA] reported that second-quarter net income rose to $1.0 billion, or $1.27 per share, on revenue of $20.0 billion. Earnings per share rose 2 percent, reflecting continued strong core performance across the company’s businesses, which more than offset higher pension expense (Table 1). Earnings per share guidance for 2012 increased to between $4.40 and $4.60 reflecting the strong core operating performance. The company also increased its revenue guidance to between $79.5 and $81.5 billion on higher Defense, Space & Security revenues, and reaffirmed its 2012 operating cash flow outlook.

“Increased revenues and strong operating performance across both our major businesses drove significantly improved first-half 2012 results for Boeing,” said Chairman, President and Chief Executive Officer Jim McNerney. “Commercial airplane

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deliveries increased 27 percent in the second quarter, and our defense, space and security business also produced higher revenues and strong margins in a difficult market environment. As a result of this solid first-half performance, we have strengthened our outlook for the year, and our people remain focused on disciplined execution, quality and productivity, and meeting customer commitments,” McNerney said.

Table 2. Cash Flow

Boeing’s quarterly operating cash flow before pension contributions* was $1.7 billion. Operating cash flow was $0.9 billion, with higher commercial airplane deliveries and strong operating performance more than offsetting continued investment in the 787 program and discretionary pension funding. Free cash flow* was $0.6 billion in the quarter (Table 2).

Table 3. Cash, Marketable Securities and Debt Balances

¹ Marketable securities consists primarily of time deposits due within one year classified as "short-term investments."

Cash and investments in marketable securities totaled $10.3 billion at quarter-end (Table 3), down from $10.5 billion at the beginning of the quarter. Debt was $11.2 billion, down from $11.6 billion at the beginning of the quarter.

Total company backlog at quarter-end was $374 billion, down from $380 billion at the beginning of the quarter, and included net orders for the quarter of $13 billion.

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Segment Results

Commercial Airplanes

Table 4. Commercial Airplanes Operating Results

Boeing Commercial Airplanes second-quarter revenue increased by 34 percent to $11.8 billion on higher delivery volume. Operating margin was 10.2 percent, reflecting higher period costs and the dilutive impact of 787 and 747-8 deliveries partially offset by the higher deliveries and lower R&D (Table 4).

During the quarter, final assembly of the first 787 built in South Carolina was completed and the first 747-8 Intercontinental passenger airplane was delivered.

Commercial Airplanes booked 28 net orders during the quarter. Backlog remains strong with approximately 4,000 airplanes valued at $302 billion.

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Boeing Defense, Space & Security

Table 5. Defense, Space & Security Operating Results

Boeing Defense, Space & Security’s second-quarter revenue increased to $8.2 billion, while operating margin was 9.1 percent (Table 5).

Boeing Military Aircraft (BMA) second-quarter revenue increased to $4.1 billion, primarily due to higher delivery volume. Operating margin decreased 1.8 points to 8.8 percent, as strong execution across various programs was more than offset by an inventory adjustment on A160. During the quarter, BMA was awarded the Apache Block III low rate initial production contract with the U.S. Army.

Network & Space Systems (N&SS) second-quarter revenue decreased to $1.9 billion, driven by lower volume on Brigade Combat Team Modernization. Operating margin was 6.7 percent, reflecting lower earnings in United Launch Alliance. During the quarter, N&SS was awarded its first international cybersecurity contract.

Global Services & Support (GS&S) second-quarter revenue increased to $2.2 billion, due to higher volume in integrated logistics. Operating margin was 11.9 percent, reflecting improved performance in maintenance, modification and upgrades. During the quarter, GS&S was awarded the F-15 Singapore follow-on performance-based logistics contract.

Backlog at Defense, Space & Security remained at $72 billion, more than two times the unit’s projected 2012 revenue.

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Additional Financial Information

Table 6. Additional Financial Information

At quarter-end, Boeing Capital Corporation’s (BCC) portfolio balance was $4.1 billion, down from $4.2 billion at the beginning of the quarter on portfolio run-off and asset sales. BCC’s debt-to-equity ratio was 5.0-to-1.

The “Other” segment includes unallocated activities of Engineering, Operations and Technology, Shared Services Group as well as certain intercompany guarantees provided to BCC. Other segment expense was $50 million in the quarter.

The loss in unallocated items and eliminations increased due to higher pension expense. Total pension expense for the second quarter was $593 million, as compared to $389 million in the same period last year.

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Outlook

The company’s 2012 financial guidance (Table 7) has been updated to reflect the strong core performance in both businesses.

Table 7. Financial Outlook

¹ After discretionary cash pension contributions of $1.5 billion and assuming new aircraft financings under $0.5 billion.

² 2012 is sold out and includes an expected 70 to 85 787 and 747-8 deliveries, of which approximately half are 787 aircraft.

³ Approximately $0.8 billion is expected to be recorded in unallocated items and eliminations.

Earnings per share guidance for 2012 increased to between $4.40 and $4.60, up from between $4.15 and $4.35, reflecting the strong core operating performance. Total company 2012 revenue increased to between $79.5 and $81.5 billion, from between $78 and $80 billion, on higher Defense, Space & Security revenues.

Commercial Airplanes’ operating margin improved to approximately 9 percent, from between 8.5 and 9 percent, reflecting the strong core performance.

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Defense, Space & Security’s revenue increased to between $31.5 and $32 billion, from between $30 and $30.5 billion, reflecting increased volume.

Non-GAAP Measure Disclosures

Management believes that the non-GAAP (Generally Accepted Accounting Principles) measures (indicated by an asterisk *) used in this report provide investors with important perspectives into the company’s ongoing business performance. The company does not intend for the information to be considered in isolation or as a substitute for the related GAAP measures. Other companies may define the measures differently. The following definitions are provided:

Operating Cash Flow Before Pension Contributions

Operating cash flow before pension contributions is defined as GAAP operating cash flow less pension contributions. Management believes operating cash flow before pension contributions provides additional insights into underlying business performance. Table 2 provides a reconciliation between GAAP operating cash flow and operating cash flow before pension contributions.

Free Cash Flow

Free cash flow is defined as GAAP operating cash flow less capital expenditures for property, plant and equipment additions. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long term value creation. Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow internally to assess both business performance and overall liquidity. Table 2 provides a reconciliation between GAAP operating cash flow and free cash flow.

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Caution Concerning Forward-Looking Statements

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The Boeing Company and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

The Boeing Company and Subsidiaries

Consolidated Statements of Financial Position

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The Boeing Company and Subsidiaries

Consolidated Statements of Cash Flows

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The Boeing Company and Subsidiaries

Summary of Business Segment Data

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