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Sep 30, 2023
Boeing Q3 2023 Earnings Report
Boeing's Q3 2023 results were impacted by unfavorable defense performance and lower 737 deliveries.
Key Takeaways
Boeing reported Q3 2023 revenue of $18.1 billion, with a GAAP loss per share of ($2.70) and a core loss per share (non-GAAP) of ($3.26). The results were affected by unfavorable defense performance and lower 737 deliveries. The company reaffirmed its guidance for operating cash flow of $4.5-$6.5 billion and free cash flow of $3.0-$5.0 billion for the year.
Boeing recorded third quarter revenue of $18.1 billion.
GAAP loss per share was ($2.70) and core loss per share (non-GAAP) was ($3.26).
Operating cash flow was $0.0 billion and free cash flow was ($0.3) billion (non-GAAP).
Total company backlog at quarter end was $469 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 reaffirmed 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 70-80 787 and now expect to deliver 375-400 737 airplanes. Now transitioning 787 to five per month; plan to complete 737 production transition to 38 per month by year-end
Positive Outlook
- Reaffirmed operating cash flow guidance of $4.5-$6.5 billion.
- Reaffirmed free cash flow guidance of $3.0-$5.0 billion (non-GAAP).
- Still expect to deliver 70-80 787 airplanes.
- Expect to deliver 375-400 737 airplanes.
- Transitioning 787 production to five per month.
Challenges Ahead
- Third quarter results were impacted by unfavorable defense performance.
- Third quarter results were impacted by lower 737 deliveries.
- Near-term deliveries and production will be impacted as the 737 program performs necessary inspections and rework.
- A supplier non-conformance was identified on the aft pressure bulkhead section of certain 737 airplanes.
- The company expects to complete the final assembly transition to 38 per month by year-end.
Revenue & Expenses
Visualization of income flow from segment revenue to net income