On July 31, 2024, Boeing held its second quarter earnings conference call, which was broadcast live and is now available on their website. The call was led by Boeing's Vice President of Investor Relations, Matt Welch, and included remarks from President and CEO David Calhoun and CFO Brian West. The discussion highlighted Boeing's ongoing recovery efforts, including strengthening safety and quality management systems, particularly post the January accident. The company has taken steps to slow production to allow the supply chain to stabilize and improve quality. Financial results for the quarter reflected these recovery efforts. Boeing also provided a comprehensive safety and quality plan to the FAA, with key performance indicators to monitor production system health. The company has seen...Show More

On July 31, 2024, Boeing held its second quarter earnings conference call, which was broadcast live and is now available on their website. The call was led by Boeing's Vice President of Investor Relations, Matt Welch, and included remarks from President and CEO David Calhoun and CFO Brian West. The discussion highlighted Boeing's ongoing recovery efforts, including strengthening safety and quality management systems, particularly post the January accident. The company has taken steps to slow production to allow the supply chain to stabilize and improve quality. Financial results for the quarter reflected these recovery efforts. Boeing also provided a comprehensive safety and quality plan to the FAA, with key performance indicators to monitor production system health. The company has seen improved performance across most metrics and remains confident in meeting production goals. Additionally, Boeing announced the appointment of Kelly Ortberg as the new CEO starting August 8, 2024. The call also covered Boeing's planned acquisition of Spirit AeroSystems, emphasizing the strategic shift to invest in quality and safety. The acquisition is expected to close mid-2025, subject to regulatory and shareholder approvals. Financially, Boeing reported a revenue of $16.9 billion, with a core loss per share of $2.90, and a free cash flow usage of $4.3 billion for the quarter. The defense sector's performance was noted as disappointing, with losses on fixed-price development contracts. Global Services, however, was highlighted as a strong performer. Looking ahead, Boeing is focused on ramping up production in a stable manner and progressing on defense program development, with a long-term view built on safety, quality, and customer delivery.