Boeing Shares Drop On Missing Q4 Earnings Consensus, 737 Program Is Stabilizing Monthly Production Rate At 31

Boeing Co's BA fourth-quarter sales increased 35% year-on-year to $19.98 billion, missing the consensus of $20.38 billion.
Adjusted loss per share of $(1.75) missed the consensus of $0.26.
Boeing delivered 152 commercial airplanes in Q4 compared to 99 last year. It recorded 376 net orders in Q4.
Commercial Airplanes unit revenue increased by 94% Y/Y to $9.22 billion.
Defense, Space & Security unit revenue grew by 5% year-on-year to $6.18 billion.
Global Services unit revenue grew by 6% Y/Y to $4.57 billion.
Boeing generated a free cash flow of $3.13 billion, up from $494 million in the same period a year ago. It held $17.2 billion in cash and equivalents.
The total backlog was $404 billion, including over 4,500 commercial airplanes.
Boeing said, "the 737 program is stabilizing production rate at 31 per month with plans to ramp production to approximately 50 per month in the 2025/2026 timeframe."
2023 Outlook: Boeing reaffirmed its outlook of $3.0 billion - $5.0 billion free cash flow and $4.5 billion - $6 billion in operating cash flow.
Price Action: BA shares are down 2.35% at $207 during the premarket session on the last check Wednesday.

Momentum54.36

Growth9.26

Quality-

Value26.82

Short

Medium

Long

Earnings Calendar