Boeing has today reported a fourth quarter 2022 net loss of $663 million or ($1.06) per share on a year-over-year increase in revenue to $20.0 billion. For the full year, the Company reported a net loss of $5.05 billion or ($8.30) per diluted share.
On Wednesday (January 25, 2023) Boeing reported their fourth quarter and full-year results for the period ending December 31, 2022. The company reported a fourth quarter net loss of $663 million or ($1.06) per diluted share on a year-over-year increase in revenue of 35 percent to $20.0 billion. For the full year, Boeing reported a net loss of $5.05 billion or ($8.30) per diluted share on revenues of $66.6 billion, up from $62.3 billion in 2021. At December 31, 2022, the company has cash and marketable securities of $17.3 billion.
In Wednesday’s announcement, Boeing’s President and Chief Executive Officer, Dave Calhoun, said,
“We had a solid fourth quarter, and 2022 proved to be an important year in our recovery. Demand across our portfolio is strong, and we remain focused on driving stability in our operations and within the supply chain to meet our commitments in 2023 and beyond. We are investing in our business, innovating and prioritizing safety, quality and transparency in all that we do. While challenges remain, we are well positioned and are on the right path to restoring our operational and financial strength.”
Boeing's Fourth Quarter 2022 Highlights - Courtesy Boeing
Boeing Commercial Airplanes' fourth quarter revenue increased year-over-year by 94 percent to $9.2 billion driven by higher 737 and 787 deliveries, partially offset by 787 customer considerations. The 737 program production rate has stabilized at 31 airplanes per month, and the company plans on ramping up production to around 50 per month by 2025/2026. Boeing’s 787 program continues at a low production rate which will reach five per month in late 2023, and increase to 10 per month by 2025/2026. During Q4, the company received 376 net orders, including an order from United Airlines for 100 737 MAX and 100 787 Dreamliners. Boeing Commercial Airplanes delivered 152 airplanes during the fourth quarter and ended the period with a backlog of over 4,500 airplanes valued at $330 billion.
Boeing’s commercial deliveries for the full-year 2022 totaled 480 commercial airplanes, including 387 737s, 374 737 MAX Family, and 13 military-derivative airplanes. The company also delivered 93 widebodies, including five 747s, 33 767s, 24 777s, and 31 787s. During 2022, Boeing also delivered 44 new production freighters. On January 31, 2023, Boeing will present a live webcast of the ceremony marking the final 747 delivery to Atlas Air at 4 PM Eastern (1 PM Pacific). The final airplane, a 747-8 Freighter, is the 1,574th manufactured over 55 years of production. Although the event will not be open to the public, Boeing will present a live webcast globally, which will be available by clicking here.
Boeing (NYSE: BA) is the world’s largest aerospace company and leading supplier of commercial airplanes, defense, space and security systems, as well as global services. The aerospace giant tops the list of the largest U.S. exporters, providing a significant positive impact to America’s annual GDP. Boeing supports government and commercial customers in over 150 countries and employs more than 160,000 team members worldwide. As Boeing continues to deliver for customers, they are committed to their legacy of aerospace leadership in technology and innovation and living the company’s core values of safety, quality and integrity.
Source: Boeing/PRNewswire