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Jun 30, 2024
Boeing Q2 2024 Earnings Report
Boeing's Q2 2024 results reflected lower commercial delivery volume and losses on fixed-price defense development programs.
Key Takeaways
Boeing recorded second quarter revenue of $16.9 billion, a GAAP loss per share of ($2.33), and a core loss per share (non-GAAP) of ($2.90). The company's operating cash flow was ($3.9) billion, and its free cash flow was ($4.3) billion (non-GAAP). Results primarily reflect lower commercial delivery volume and losses on fixed-price defense development programs.
Submitted comprehensive safety and quality plan to the Federal Aviation Administration.
Announced agreement to acquire Spirit AeroSystems in July; transaction expected to close mid-2025.
Revenue of $16.9 billion, GAAP loss per share of ($2.33) and core (non-GAAP)* loss per share of ($2.90).
Total company backlog of $516 billion, including over 5,400 commercial airplanes
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
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate.
Positive Outlook
- Statements relating to our future financial condition and operating results.
- Statements including words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and other similar words or expressions, or the negative thereof.
- Statements relating to our ability to successfully develop and certify new aircraft or new derivative aircraft.
- Realizing the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures, including anticipated synergies and quality improvements related to our pending acquisition of Spirit.
- Our ability to obtain debt financing on commercially reasonable terms, at competitive rates and in sufficient amounts.
Challenges Ahead
- General conditions in the economy and our industry, including those due to regulatory changes.
- Our reliance on our commercial airline customers.
- The overall health of our aircraft production system, production quality issues, commercial airplane production rates, and the ability of our aircraft to meet stringent performance and reliability standards.
- Our pending acquisition of Spirit AeroSystems Holdings, Inc. (Spirit), including the satisfaction of closing conditions in the expected timeframe or at all.
- Changing budget and appropriation levels and acquisition priorities of the U.S. government, as well as significant delays in U.S. government appropriations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income