Photo taken on March 13, 2019 shows the Boeing logo at its headquarters in downtown Chicago, the United States. (Xinhua/Joel Lerner)
Its Commercial Airplanes first-quarter revenue increased to 6.7 billion dollars driven by higher 737 and 787 deliveries, partially offset by 787 customer considerations.
SAN FRANCISCO, April 26 (Xinhua) -- The Boeing Company on Wednesday reported first-quarter revenue of 17.9 billion U.S. dollars, a 28 percent increase from the same period of 2022.
The company recorded a quarterly net loss of 425 million dollars with the Generally Accepted Accounting Principles (GAAP) loss per share of 0.69 dollars and core loss per share (non-GAAP) of 1.27 dollars.
It also recorded an operating cash flow of negative 0.3 billion dollars. Cash and investments in marketable securities decreased to 14.8 billion dollars, compared to 17.2 billion dollars at the beginning of the quarter.
The company's debt was 55.4 billion dollars, down from 57.0 billion dollars at the beginning of the quarter due to the paydown of debt maturities. It has access to credit facilities of 12.0 billion dollars, which remain undrawn. The total company backlog at quarter-end was 411 billion dollars.
Its Commercial Airplanes first-quarter revenue increased to 6.7 billion dollars driven by higher 737 and 787 deliveries, partially offset by 787 customer considerations.
During the quarter, Commercial Airplanes secured net orders of 107 and delivered 130 airplanes. The backlog included over 4,500 airplanes valued at 334 billion dollars.
The 737 program expects to deliver 400 to 450 airplanes this year. The company expects final assembly production to recover in the coming months with plans to increase to 38 per month later this year and 50 per month in the 2025/2026 timeframe.
The 787 program is producing at three per month with plans to ramp production to five per month in late 2023 and to 10 per month in the 2025/2026 timeframe, Boeing said.
Photo taken on March 13, 2019 shows the Boeing logo at its headquarters in downtown Chicago, the United States. (Xinhua/Joel Lerner)
Defense, Space & Security first-quarter revenue increased to 6.5 billion dollars from 5.5 billion dollars one year ago.
Global Services first-quarter revenue increased to 4.7 billion dollars from 4.3 billion dollars year on year and its operating margin of 17.9 percent reflects higher commercial volume.
"We delivered a solid first quarter and are focused on driving stability for our customers," said Dave Calhoun, Boeing president and chief executive officer.
"We are progressing through recent supply chain disruptions but remain confident in the goals we set for this year, as well as for the longer term. Demand is strong across our key markets and we are growing investments to advance our development programs and innovate strategic capabilities," he added. ■
