July 24, 2013 / 3:18 PM / 6 years ago

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

NEW YORK (Reuters) - Boeing Co (BA.N) 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 (651 million pounds) increase in defence revenue.

Reporting by Alwyn Scott; Editing by Gerald E. McCormick

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