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.