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published in Blogs
Jan 25, 2023
Boeing (BA, $210.74) posts a quarterly loss

Boeing (BA, $210.74) posts a quarterly loss

Boeing posted a surprise fourth quarter loss. Nevertheless, the aircraft manufacturer announced its first positive free-cash flow in more than four years.  

Boeing incurred an adjusted core loss of - $1.75 per share in the quarter, vs. the huge - $7.69 per share loss it reported a year ago,  amidst a $3.5 billion charge linked to delays in production and delivery of its 787 widebody. However, it missed the Street consensus expectation of a 26 cents per share profit.

Revenues climbed +35% year-over-year to $19.98 billion, but was below analysts' expectations of $20.38 billion.

Free cash flow was $3.45 billion for the quarter and was positive for the full year for the first time since 2018.

The company delivered 480 planes last year, which is +41% higher than 2021 levels. It received orders for at least 774 new jets.

For the current financial year, Boeing reaffirmed its projection for operating cash flows range of $4.5 billion and $6.5 billion, with free cash flow of $3 billion to $5 billion.

Related Tickers: BA