share_log

Boeing | 8-K: Boeing Reports Fourth Quarter Results

SEC announcement ·  Jan 31 07:31
Summary by Moomoo AI
On January 31, 2024, Boeing released its financial results for the fourth quarter of 2023, revealing a revenue of $22.0 billion and a GAAP loss per share of $0.04. Despite the loss, the company reported a significant improvement in its financial performance compared to the previous year, with a 10% increase in quarterly revenue and a 17% increase in annual revenue, reaching $77.794 billion for the full year. The quarter saw Boeing deliver 157 commercial airplanes and record 611 net orders, contributing to a total backlog of $520 billion, including over 5,600 commercial airplanes. The company generated $3.4 billion in operating cash flow and $3.0 billion in free cash flow (non-GAAP) for the quarter. Boeing's Commercial Airplanes segment reported a 13% increase in quarterly revenue to $10.5 billion, driven by higher deliveries and favorable...Show More
On January 31, 2024, Boeing released its financial results for the fourth quarter of 2023, revealing a revenue of $22.0 billion and a GAAP loss per share of $0.04. Despite the loss, the company reported a significant improvement in its financial performance compared to the previous year, with a 10% increase in quarterly revenue and a 17% increase in annual revenue, reaching $77.794 billion for the full year. The quarter saw Boeing deliver 157 commercial airplanes and record 611 net orders, contributing to a total backlog of $520 billion, including over 5,600 commercial airplanes. The company generated $3.4 billion in operating cash flow and $3.0 billion in free cash flow (non-GAAP) for the quarter. Boeing's Commercial Airplanes segment reported a 13% increase in quarterly revenue to $10.5 billion, driven by higher deliveries and favorable mix. The Defense, Space & Security segment saw a 9% increase in quarterly revenue to $6.7 billion, despite a $139 million loss on certain fixed-price development programs. Global Services reported a 6% increase in quarterly revenue to $4.8 billion, with an operating margin of 17.4%. Boeing's CEO, Dave Calhoun, emphasized the company's commitment to quality and transparency, particularly in light of the Alaska Airlines Flight 1282 accident involving a 737-9. Boeing has taken immediate actions to strengthen quality on the 737 program and has appointed an outside expert to lead an independent assessment of its quality management system.

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more