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Mar 31, 2023
Boeing Q1 2023 Earnings Report
Boeing's first quarter results improved on commercial volume and performance.
Key Takeaways
Boeing reported first-quarter revenue of $17.9 billion, GAAP loss per share of ($0.69), and core loss per share (non-GAAP) of ($1.27). Operating cash flow was ($0.3) billion and free cash flow was ($0.8) billion (non-GAAP).
Revenue increased to $17.9 billion primarily reflecting 130 commercial deliveries
Still expect to deliver 400-450 737 airplanes in 2023; plan to increase production to 38 per month later this year
Operating cash flow of ($0.3) billion and free cash flow of ($0.8) billion (non-GAAP); cash and marketable securities of $14.8 billion
Total company backlog of $411 billion, including over 4,500 commercial airplanes
Revenue by Segment
Forward Guidance
Boeing reaffirms 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 400-450 737 airplanes in 2023; plan to increase production to 38 per month later this year.
Positive Outlook
- Demand is strong across our key markets
- Growing investments to advance our development programs
- Innovate strategic capabilities for our customers
- Innovate strategic capabilities for our future
- Supplier master schedule remains unchanged including anticipated production rate increases
Challenges Ahead
- Progressing through recent supply chain disruptions
- Near-term deliveries and production will be impacted as the program performs necessary inspections and rework
- Higher inventory levels
- Operational impact of labor instability
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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