Having reported a net loss of US$4.3 billion in 2021, Boeing Co. has reported a net loss of US$5.0 billion for 2022. Operational losses have been reported at US$3.5 billion, up from US$2.9 billion in 2021. The American planemaker generated US$3.1 billion in free cash flow in the final quarter of 2022. It had forecast about US$2.5 billion in free cash flow for the fourth quarter. The company reported US$2.3 billion for all of 2022 according to Refinitiv data.
Boeing reported fourth-quarter revenue of US$20 billion, up from US$14.79 billion in 2022 and a loss per share of US$1.75. Boeing had been expected to report US$20.38 billion in revenue in the quarter and a gain of 26 cents a share. While airlines across the industry have been struggling with supply chain bottlenecks, Boeing has managed to improve its ability to ramp-up deliveries while demand from airlines for Boeing jets remains strong.
With Congress lifting a deadline imposing a new safety standard for modern cockpit alerts for two new versions of 737 MAX aircraft and China seeing the 737 cleared to fly again, there is room for optimism ahead. The situation is helped with there being approximately 140 of the 200 737 MAX planes on order for Chinese customers in storage.
