Boeing 2011 forecast trails estimates

Boeing Co, the world’s biggest aerospace company, forecast a 2011 profit that trailed analysts' estimates, citing delays to its two marquee jets and scaled-back defense spending in the US. The shares fell in early New York trading. Full-year profit will be about $3.80 a share to $4 a share with sales rising to as much as $71 billion, the company said. That lagged behind the $4.53-a-share average estimate of 26 analysts surveyed by Bloomberg.

Boeing said the forecast reflects an increase of 58 cents a share in pension expenses along with the seventh delay to the 787 Dreamliner and Pentagon spending constraints. Boeing and its only larger commercial rival, Airbus SAS, are lifting output to record rates starting this year as airlines add more fuel-efficient aircraft.