Boeing (BA) earnings Q4 2022

A Boeing 747-8F operated by AirBridgeCargo takes off from Leipzig/Halle Airport.Jan Woitas | Image Alliance | Getty ImagesBoeing posted a $663 million loss within the fourth quarter as provide chain points weighed on outcomes regardless of a rebound in plane gross sales and deliveries that drove up income.Airways and plane producers have benefitted from a pointy restoration in air journey, one of the affected industries from the pandemic. However Boeing’s leaders have been hesitant to ramp up plane manufacturing till the provision chain has stabilized. The corporate is producing 31 of its 737 jets a month and plans to extend that to about 50 per thirty days in 2025 or 2026. It stated it might enhance what has been low manufacturing fee of the 787 Dreamliners to 5 every month towards the top of the yr and to 10 per thirty days in 2025 or 2026. Deliveries of these wide-body planes had been paused for round two years till this summer season on account of manufacturing flaws.For the total yr, Boeing misplaced $5 billion regardless of a 7% enhance in income to $66.6 billion.This is how Boeing carried out within the fourth quarter in contrast with analysts’ estimates complied by Refinitiv:Adjusted loss per share: $1.75 vs. anticipated earnings per share of 26 cents.Income: $19.98 billion vs. $20.38 billion anticipated.Boeing generated $3.1 billion in money circulation within the fourth quarter, increased than analyst forecasts, and $2.3 billion for the yr, essentially the most since 2018, earlier than the second of two deadly 737 Max crashes that sparked a years-long disaster for the corporate.Its industrial plane unit generated $9.2 billion in gross sales within the fourth quarter, up 94% from a yr earlier as deliveries jumped, but it surely nonetheless produced a loss on account of irregular prices and different bills corresponding to analysis and growth, the corporate stated.Boeing reiterated its expectation to generate between $3 billion and $5 billion in free money circulation this yr.”We’re pleased with how we closed out 2022, and regardless of the hurdles in entrance of us, we’re assured in our path forward,” CEO Dave Calhoun stated in a memo to workers. “We now have a sturdy pipeline of growth packages, we’re innovating for the long run and we’re rising investments to organize for our subsequent era of merchandise.”