Boeing CEO -'Not out of woods' on US budget sequestration effect

NEW YORK, July 24 Wed Jul 24, 2013 11:11am EDT

NEW YORK, July 24 (Reuters) - Boeing Co Chief Executive Officer Jim McNerney said on Wednesday the company has not yet seen most of the impact from U.S. budget sequestration on its earnings.

"We are not out of the woods at all," he said in a conference call after the release of second-quarter earnings. "We are entering the woods."

Earlier Wednesday, Boeing raised its full-year revenue forecast, based on an expected $1 billion increase in defense revenue.

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