Boeing reports fourth-quarter results

Other News Materials 26 January 2023 00:25 (UTC +04:00)
Boeing reports fourth-quarter results

The Boeing Company on Wednesday reported a revenue of 20 billion U.S. dollars for the fourth quarter of 2022, a 35 percent increase compared to the same period of 2021, Trend reports citing Xinhua.

The company's full-year 2022 revenue was 66.6 billion dollars, a 7 percent increase year over year, and its generally accepted accounting principles (GAAP) loss per share was 1.06 dollars for the quarter, and 8.30 dollars for the full year.

Boeing recorded a net loss of 663 million dollars for the quarter and about 5.1 billion dollars for the full year.

The company generated 3.5 billion dollars of operating cash flow in the fourth quarter, and 3.5 billion dollars of operating cash flow and 2.3 billion dollars of free cash flow (non-GAAP) for the full year of 2022.

Boeing's Commercial Airplanes fourth-quarter revenue increased by 94 percent year on year to 9.2 billion dollars, driven by higher 737 and 787 deliveries and partially offset by 787 customer considerations.

During the quarter, the company delivered 152 commercial aircraft, a 54 percent increase year on year, and secured net orders for 376 aircraft.

For the full year, Boeing delivered 480 commercial airplanes, an increase of 41 percent compared to year 2021. It recorded 808 net orders in 2022.

The 737 program is stabilizing production rate at 31 per month with plans to ramp production to approximately 50 per month in the 2025/2026 timeframe. Additionally, the 787 program continues at a low production rate with plans to ramp production to five per month in late 2023 and to 10 per month in the 2025/2026 timeframe, the company said.

In Boeing's Defense, Space and Security programs, a total of 45 aircraft and three satellites were delivered in the fourth quarter. The revenue increased to 6.2 billion dollars, a 5 percent increase year on year. The full year revenue was 23.2 billion dollars, down by 13 percent from 2021.

Boeing's Global Services fourth-quarter revenue increased by 6 percent year on year to 4.6 billion dollars, and the full year revenue was 17.6 billion dollars.

"We had a solid fourth quarter, and 2022 proved to be an important year in our recovery," said Dave Calhoun, Boeing president and chief executive officer.

Boeing remains focused on driving stability in its operations and within the supply chain to meet its commitments in 2023 and beyond, he said.