Boeing announced fourth-quarter revenue totalling US$22.0 billion, with a GAAP loss per share of ($0.04) and a core loss per share (non-GAAP) of ($0.47). The company recorded an operating cash flow of US$3.4 billion and a free cash flow of US$3.0 billion (non-GAAP), showing improvement attributed to higher commercial volume and performance.
Commercial Airplanes’ fourth-quarter revenue rose to US$10.5 billion, driven by increased deliveries and a favourable mix. The operating margin reached 0.4%, reflecting enhanced performance and reduced abnormal costs. The operating cash flow for the quarter was US$3.4 billion, indicating higher volume and favourable receipt timing.
Boeing remains transparent in its collaboration with the FAA following the Alaska Airlines Flight 1282 accident involving a 737-9. Immediate actions are being taken within the Commercial Airplanes division to enhance quality on the 737 programme, including additional inspections and a one-day pause in production for employee refocusing on quality. An external expert has been appointed to conduct a thorough independent assessment of Commercial Airplanes’ quality management system, with recommendations directly provided to CEO Calhoun and the Aerospace Safety Committee of Boeing’s Board of Directors.
Despite challenges, the 737 programme continues to deliver airplanes at a rate of 38 per month, while the 787 programme’s production rate is now at five per month.
In the quarter, Commercial Airplanes secured 611 net orders, including 411 for the 737, 98 for the 777X, and 83 for the 787. The 737-10 began certification flight testing and production on the 777X programme resumed. The quarter saw the delivery of 157 airplanes, contributing to a backlog of over 5,600 airplanes valued at US$441 billion. (£1.00 = US$1.27 at time of publication).
