The Boeing Company [NYSE: BA] recorded third quarter revenue of $18.1 billion, GAAP loss per share of ($2.70) and core loss per share (non-GAAP) of ($3.26). Third quarter results were impacted by unfavorable defense performance and lower 737 deliveries. Boeing reported operating cash flow of $0.0 billion and free cash flow of ($0.3) billion (non-GAAP).
"We continue to progress in our recovery and despite near-term challenges, we remain on track to meet the financial goals we set for this year and for the long term," said Dave Calhoun, Boeing president and chief executive officer. "We are focused on driving stability in our supply chain and improving operational performance as we steadily increase production rates to meet strong demand. The important work we're doing to add rigor around our quality systems and build a culture of transparently bringing forward any issue, no matter the size, can bring short-term challenges – but it is how we set ourselves on the right course for our long-term future. Leading with safety, quality and transparency, we will continue to restore our operational and financial strength."
Third Quarter 2023
Reaffirm guidance: $4.5-$6.5 billion of operating cash flow and $3.0-$5.0 billion of free cash flow (non-GAAP)
Still expect to deliver 70-80 787 and now expect to deliver 375-400 737 airplanes
Now transitioning 787 to five per month; plan to complete 737 production transition to 38 per month by year-end
Revenue of $18.1 billion reflecting 105 commercial deliveries
Total company backlog of $469 billion, including over 5,100 commercial airplanes
2023 Financials
Source From: Boeing Reports Third Quarter Results