Companies

Boeing reports performance of fourth quarter 2023

SAN FRANCISCO
2024-02-01 05:51

Already collect



SAN FRANCISCO, Jan. 31 (Xinhua) -- The Boeing Company on Wednesday reported a revenue of 22 billion U.S. dollars for the fourth quarter of 2023, a 10 percent increase compared to the same period of 2022.

The company's full-year 2023 revenue was 77.8 billion dollars, a 17 percent increase year over year, and its generally accepted accounting principles (GAAP) loss per share was 0.04 dollars for the quarter, and 3.67 dollars for the full year.

Boeing recorded a net loss of 30 million dollars for the quarter and about 2.2 billion dollars for the full year.

The company generated 3.4 billion dollars of operating cash flow in the fourth quarter, and 6.0 billion dollars of operating cash flow and 4.4 billion dollars of free cash flow (non-GAAP) for the full year of 2023.

Its cash and investments in marketable securities totaled 16.0 billion dollars, compared to 13.4 billion dollars at the beginning of the quarter, and the company's consolidated debt remained 52.3 billion dollars.

Boeing's Commercial Airplanes fourth-quarter revenue increased by 13 percent year on year to 10.5 billion dollars, driven by higher deliveries.

During the quarter, the company delivered 157 commercial aircraft, a 3 percent increase year on year, and secured net orders for 611 aircraft, including 411 737, 98 777X, and 83 787 airplanes.

For the full year, Boeing delivered 528 commercial airplanes, an increase of 10 percent compared to year 2022. It recorded 1,576 net orders in 2023.

The company began certification flight testing on the 737-10, and resumed production on the 777X program and backlog included over 5,600 airplanes valued at 441 billion dollars.

The 737 program continues to deliver airplanes and its production rate is now at 38 per month. The 787 program production rate is now at five per month, the company said.

In Boeing's Defense, Space and Security programs, a total of 52 aircraft and two commercial and civil satellites were delivered in the fourth quarter. The revenue increased to 6.7 billion dollars, a 9 percent increase year on year. The full year revenue was 25.0 billion dollars, up 8 percent from 2022.

Boeing's Global Services fourth-quarter revenue increased by 6 percent year on year to 4.8 billion dollars, and the full year revenue was 19.1 billion dollars.

"While we report our financial results today, our full focus is on taking comprehensive actions to strengthen quality at Boeing, including listening to input from our 737 employees that do this work every day," said Dave Calhoun, Boeing president and chief executive officer. "As we move forward, we will support our customers, work transparently with our regulator and ensure we complete all actions to earn the confidence of our stakeholders."
Add comments

Latest comments

Latest News
News Most Viewed