Boeing Q1 2021 Earnings Report
Key Takeaways
Boeing reported first-quarter revenue of $15.2 billion, driven by lower 787 deliveries and commercial services volume, partially offset by higher 737 deliveries and higher KC-46A Tanker revenue. The company's GAAP loss per share was ($0.92), and the core loss per share (non-GAAP) was ($1.53). Boeing recorded operating cash flow of ($3.4) billion. Total company backlog at quarter-end was $364 billion.
Continued progress on safe return to service of 737 MAX; resumed 787 deliveries in late March
Revenue of $15.2 billion, GAAP loss per share of ($0.92) and core (non-GAAP)* loss per share of ($1.53)
Operating cash flow of ($3.4) billion; cash and marketable securities of $21.9 billion
Total backlog grew to $364 billion; Commercial Airplanes added 76 net orders
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Boeing
Boeing Revenue by Segment
Forward Guidance
The global pandemic continues to challenge the overall market environment, Boeing views 2021 as a key inflection point for our industry as vaccine distribution accelerates. Our balanced commercial, defense, space and services portfolio continues to provide critical stability for our business.
Positive Outlook
- Continued progress on safe return to service of 737 MAX
- Resumed 787 deliveries in late March
- Higher 737 deliveries
- Higher KC-46A Tanker revenue
- Strong defense, space and services portfolio
Challenges Ahead
- Global pandemic continues to challenge the overall market environment
- Lower 787 deliveries
- Lower commercial services volume
- Lower tax benefits
- Higher interest expense
Revenue & Expenses
Visualization of income flow from segment revenue to net income