Boeing (BA) earnings Q4 2022

A Boeing 747-8F operated by AirBridgeCargo takes off from Leipzig/Halle Airport.

Jan Woitas | Picture Alliance | Getty Images

Boeing posted a $663 million loss in the fourth quarter as supply chain issues weighed on results despite a rebound in aircraft sales and deliveries that boosted revenue.

Airlines and aircraft manufacturers have benefited from a strong recovery in air travel, one of the industries hardest hit by the pandemic. But Boeing executives have been reluctant to ramp up aircraft production until the supply chain stabilizes.

The company produces 31 of its 737 jets per month and plans to increase that number to about 50 per month in 2025 or 2026. It said it will increase the low production rate of the 787 Dreamliners to five a month later this year and 10 a month in 2025 or 2026. Deliveries of those widebody aircraft had been suspended for around two years until this summer due to production errors .

For the full year, Boeing lost $5 billion despite a 7% increase in revenue to $66.6 billion.

This is how Boeing performed in the fourth quarter compared to analyst estimates prepared by Refinitiv:

  • Adjusted loss per share: $1.75 versus expected earnings per share of 26 cents.
  • Revenue: $19.98 billion versus $20.38 billion expected.

Boeing generated $3.1 billion in cash flow in the fourth quarter, more than analysts had forecast, and $2.3 billion for the year, the highest since 2018, before the second of two deadly 737 Max crashes triggered a long-term crisis for the company.

The airliner division generated revenue of $9.2 billion in the fourth quarter, up 94% year over year as deliveries skyrocketed but still posted a loss due to unusual costs and other spending like research and development , the company said.

Boeing reiterated its expectation of generating between $3 billion and $5 billion in free cash flow this year.

“We’re proud of how we ended 2022 and despite the hurdles ahead, we’re confident in our journey forward,” CEO Dave Calhoun said in a memo to employees. “We have a solid pipeline of development programs, we are innovating for the future, and we are increasing our investments to prepare for our next generation of products.” Boeing (BA) earnings Q4 2022

Sportsasff is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button