Boeing $BA Outperforms Q4 2023 Earnings Expectations, Focuses on Quality Enhancement and Strategic Actions

Boeing ($BA) Q4 2023 Earnings Highlights:

– Revenue reaches $22.02 billion, surpassing the estimated $21.06 billion.

– Commercial Airplanes Revenue records $10.48 billion, exceeding the estimated $10.04 billion.

– Defense, Space & Security Revenue stands at $6.75 billion, surpassing the estimated $6.17 billion.

– Global Services Revenue reports $4.85 billion, slightly above the estimated $4.84 billion.

– Adjusted Free Cash Flow is $2.95 billion, surpassing the estimated $2.09 billion.

– Operating Cash Flow is $3.38 billion, exceeding the estimated $2.49 billion.

– Core Loss per Share is 47 cents.

– Defense, Space & Security Operating Loss is $101 million, beating the estimated loss of $163.2 million.

– Global Services Operating Earnings reach $842 million, surpassing the estimated $762 million.

– CEO Dave Calhoun emphasizes, “Full focus is on taking comprehensive actions to strengthen quality at Boeing.”

Key Metrics:

– Backlog: $520 billion

– 787 Production Rate: 5/month

– 737 Production Rate: 38/month

– Commercial Airplanes Deliveries: 157 units, up 3% year-over-year

– Net Loss: $23 million

– Loss per Share: 4 cents

Additional Details:

– Boeing appoints an outside expert for an independent assessment of its commercial airplanes’ quality management system.

– The company maintains the 737 program production rate at 38 per month and the 787 program production rate at five per month.

– Primary focus is on supporting customers and working transparently with regulators.

– Boeing suspends the forecast for 2024.