Boeing (BA) Q4 earnings 2022

An AirBridgeCargo Boeing 747-8F takes off from Leipzig/Halle Airport.

Jan Wojtas | Photo Alliance | Getty Images

Boeing reported a loss of $663 million for the fourth quarter, as supply chain issues impacted results despite a recovery in aircraft sales and deliveries, driving revenue growth.

Airlines and aircraft manufacturers have benefited from a sharp recovery in air travel, one of the hardest-hit industries from the Covid pandemic. But Boeing executives were hesitant to ramp up aircraft production until the supply chain stabilized.

The company produces 31 of its 737 aircraft per month and plans to increase that number to around 50 per month in 2025 or 2026. per year and up to 10 per month in 2025 or 2026. Deliveries of these wide-body aircraft were suspended for approximately two years until this summer due to manufacturing defects.

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

Here’s how the company performed in fourth quarter compared to analyst estimates compiled by Refinitiv:

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

Boeing’s fourth-quarter cash flow was $3.1 billion, above analysts’ forecasts, and $2.3 billion for the year, the highest since 2018, before the second of two fatal 737 Max crashes that sparked a multi-year crisis For the company.

In the fourth quarter, its commercial aircraft division generated $9.2 billion in sales, up 94% from a year earlier, as shipments jumped but is still losing money due to abnormal costs and other expenses such as research and development. , the company said in a statement.

Boeing reiterated its expectations for $3 to $5 billion in free cash flow this year.

“We are proud of how we ended 2022 and despite the obstacles ahead, we are confident on our way forward,” CEO Dave Calhoun said in a memo to employees. “We have a robust portfolio of development programs, we are innovating for the future and increasing investments to prepare for the next generation of products.”

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