Boeing Q4 Loss Sharply Narrows; Results Miss Estimates

RTTNews | 745 days ago

(RTTNews) - Aerospace giant Boeing Co. (BA) on Wednesday reported fourth-quarter net loss attributable to Boeing shareholders of $634 million or $1.06 per share, sharply narrower than $4.14 billion or $7.02 per share in the year-ago quarter.

Excluding special items, core loss for the quarter was $1.75 per share, compared to core loss of $7.69 per share in the prior-year quarter.

Total revenues for the quarter improved 35 percent to $19.98 billion from $14.79 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share on revenues of $20.38 billion for the quarter. Analysts' estimates typically exclude special items.

Commercial Airplanes revenue surged 94 percent to $9.22 billion, primarily driven by higher 737 and 787 deliveries, partially offset by 787 customer considerations. Defense, Space & Security revenue increased 5 percent to $6.18 billion and Global Services revenue increased 6 percent to $4.57 billion from last year.

During the quarter, Commercial Airplanes delivered 152 airplanes, up 54 percent from 99 airplanes in the year-ago period. It secured net orders for 376 aircraft. Commercial Airplanes backlog included over 4,500 airplanes valued at $330 billion.

Looking ahead to fiscal 2023, the continues to expect operating cash flow in a range of $4.5 billion to $6.5 billion and free cash flow in a range of $3.0 billion to $5.0 billion.

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Tags: BA

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