Boeing reports second quarter results, with more red figures

Boeing reported its second-quarter results with revenue reaching $19.8 billion, primarily driven by 136 commercial deliveries. The company’s operating cash flow was $2.9 billion, and free cash flow stood at $2.6 billion (non-GAAP). Boeing’s total company backlog was $440 billion, including over 4,800 commercial aeroplanes. The company reaffirmed its guidance of $4.5-$6.5 billion of operating cash flow and $3.0-$5.0 billion of free cash flow (non-GAAP).

Commercial Airplanes revenue for the second quarter increased to $8.8 billion, mainly due to higher 787 deliveries. The 737 programme is transitioning production to 38 aeroplanes per month and plans to reach 50 per month in 2025/2026. The 787 programme increased production to four per month with plans to ramp up to five per month in late 2023 and 10 per month in 2025/2026. Commercial Airplanes delivered 136 aeroplanes during the quarter, and the backlog included over 4,800 aeroplanes valued at $363 billion.

Defense, Space & Security second-quarter revenue was $6.2 billion, with an operating margin of (8.5) percent, primarily impacted by losses on certain fixed-price development programs and operational impacts of labour instability and supply chain disruption. The segment’s backlog was $58 billion.

Global Services second-quarter revenue was $4.7 billion, and its operating margin was 18.0 percent, reflecting higher commercial volume and a favourable mix.

Boeing’s non-GAAP measures, including core operating earnings/(loss), core operating margin, core earnings/(loss) per share, and free cash flow, were used to provide additional insight into the company’s ongoing business performance.

Please note that the relevant tables have been omitted in this summary, and you may refer to the original report for detailed financial information.