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Mar 31, 2022
Boeing Q1 2022 Earnings Report
Boeing's first quarter results reflected challenges from the war in Ukraine and fixed-price defense development programs, but the company remained on track to generate positive cash flow for 2022.
Key Takeaways
Boeing reported a first-quarter revenue of $14.0 billion, with a GAAP loss per share of ($2.06) and a core loss per share (non-GAAP) of ($2.75). The company's performance was impacted by lower defense volume and charges on fixed-price defense development programs, along with $212 million in pre-tax charges for impacts of the war in Ukraine. Boeing recorded operating cash flow of ($3.2) billion.
737 production and deliveries continued to increase, and the company submitted its 787 certification plan to the FAA.
The 777-8 Freighter was launched, but the first 777-9 delivery is now anticipated in 2025.
Charges were recorded on fixed-price defense development programs and for impacts of the war in Ukraine.
The company continues to expect positive cash flow for 2022.
Boeing
Boeing
Boeing Revenue by Segment
Revenue by Segment
Commercial Airplanes Revenue
CapyFin.comDefense, Space & Security Revenue
CapyFin.comGlobal Services Revenue
CapyFin.com Forward Guidance
Boeing remains on track to generate positive cash flow for 2022, despite pressures on defense and commercial development programs. The company is focused on performance, working through certification requirements, and maturing key programs to production.
Positive Outlook
- 737 MAX production and deliveries are increasing.
- Important progress has been made on the 787, with the certification plan submitted to the FAA.
- The company is taking actions to drive stability throughout operations.
- Boeing is focused on delivering on commitments to customers.
- The company is positioning itself for a sustainable future.
Challenges Ahead
- The first quarter of 2022 brought new challenges for the world, industry, and business.
- There are pressures on defense and commercial development programs.
- The company faces certification requirements.
- Several key programs need to mature to production.
- The company is working through impacts of the war in Ukraine which resulted in charges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income