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Jun 30, 2020
Boeing Q2 2020 Earnings Report
Boeing's financial results were significantly impacted by COVID-19 and the 737 MAX grounding.
Key Takeaways
Boeing reported a second-quarter revenue of $11.8 billion, a GAAP loss per share of ($4.20), and a core loss per share (non-GAAP) of ($4.79). The results primarily reflect the impacts of COVID-19 and the 737 MAX grounding. Boeing recorded an operating cash flow of ($5.3) billion.
Revenue was $11.8 billion.
GAAP loss per share was ($4.20).
Core (non-GAAP) loss per share was ($4.79).
Operating cash flow was ($5.3) billion.
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 is taking actions to align to the sharp reduction in commercial market demand due to COVID-19, including adjusting commercial airplane production rates and reducing employment levels.
Positive Outlook
- Restarted production operations across key sites.
- Resumed early stages of production on the 737 program with a focus on safety, quality and operational excellence.
- Made steady progress toward the safe return to service of the 737, including completion of FAA certification flight tests.
- Received an award for three additional MQ-25 unmanned aerial refueling aircraft for the U.S. Navy.
- Captured an order for four 767-300 freighter conversions for DHL.
Challenges Ahead
- Further adjusting commercial airplane production rates.
- Reducing employment levels.
- COVID-19 pandemic has significantly impacted air travel and reduced near-term demand.
- 787 production rate will be reduced to 6 per month in 2021.
- The 777/777X combined production rate will be gradually reduced to 2 per month in 2021, with 777X first delivery targeted for 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income