Boeing Q4 Loss Sharply Narrows - Quick Facts

Aerospace giant Boeing Co. (BA) on Wednesday reported fourth-quarter net loss attributable to Boeing shareholders of $4.16 billion or $7.02 per share, sharply narrower than $8.44 billion or $14.65 per share in the year-ago quarter.

The 787 program recorded $3.5 billion pre-tax non-cash charge; focused on actions required to resume deliveries.

Excluding special items, core loss for the quarter was $7.69 per share, compared to core loss of $15.25 per share in the prior-year quarter.

Total revenues for the quarter declined 3 percent to $14.79 billion from $15.30 billion in the same quarter last year, reflecting higher commercial volume and lower defense revenue. The 737 MAX continued its global return to service, including progress in China

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.30 per share on revenues of $16.86 billion for the quarter. Analysts' estimates typically exclude special items.

Commercial Airplanes revenue increased slightly to $4.75 billion, primarily driven by higher 737 deliveries, partially offset by lower widebody deliveries and less favorable mix. Defense, Space & Security revenue decreased 14 percent to $5.86 billion and Global Services revenue increased 15 percent to $4.29 billion from last year.

During the quarter, Commercial Airplanes delivered 99 airplanes, up 68 percent from 59 airplanes in the year-ago period. It secured orders for 164 737 MAX and 24 freighter aircraft. Total company backlog at quarter-end was $377 billion. Commercial Airplanes backlog included over 4,200 airplanes valued at $297 billion.

Boeing said it is continuing to make progress on the global safe return to service of the 737 MAX. The 737 program is currently producing at a rate of 26 per month and continues to progress towards a production rate of 31 per month in early 2022. The company is evaluating the timing of further rate increases.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Swiss luxury goods group Compagnie Financiere Richemont AG reported Friday significantly higher profit in fiscal 2022 with strong growth in demand. The company also lifted its dividend, and announced a special dividend. Meanwhile, the shares were losing around 12 percent in the morning trading in Switzerland. Coeurd-Alene, Idaho-based White Cane Smoked Salmon LLC is recalling Wild Alaskan Cooked and Smoked Salmon as it contains undeclared wheat and soy, known allergens, the U.S. Food and Drug Administration said. The affected Alaskan Cooked and Smoked Salmon is packaged in vacuum bag, sold frozen, and there is no lot code or best by date on a package. Auto giant Ford Motor Co. (F) has issued a recall of about 39,000 2021 Expedition and Lincoln Navigator vehicles due to fire risk. The company has asked the customers of the recalled 2021 Ford Expedition and Lincoln Navigator SUVs to park their vehicles outside and away from structures while it investigates...
Follow RTT