Boeing has reported a fourth quarter 2023 net loss of $30 million or ($0.04) per share on a year-over-year increase in revenue of 10 percent to $22 Billion. For the full year 2023, the company reported a net loss of $2.24 billion or ($3.67) per share.
On Wednesday (January 31, 2024), Boeing reported their fourth quarter and full year financial results for the period ending December 31, 2023. The company reported a fourth quarter net loss of $30 million or ($0.04) per share on a 10 percent year-over-year increase in revenue to $22.0 billion. For the full year 2023, the company reported a net loss of 2.24 billion or ($3.67) per share on a 17 percent increase in revenue versus FY 2022 to $77.8 billion. During Q4 2023, Boeing delivered 157 commercial airplanes and recorded 611 net orders. For the full year, the company delivered 528 commercial airplanes and received 1,576 net orders. At December 31, 2023, Boeing’s order backlog grew to $520 billion, including more than 5,600 commercial airplanes.
In Wednesday’s announcement, Boeing’s President and Chief Executive Officer, Dave Calhoun, said,
“While we report our financial results today, our full focus is on taking comprehensive actions to strengthen quality at Boeing, including listening to input from our 737 employees that do this work every day. As we move forward, we will support our customers, work transparently with our regulator and ensure we complete all actions to earn the confidence of our stakeholders.”
Boeing ended the fourth quarter with cash and marketable securities totaling $16.0 billion and access to $10.0 billion in undrawn credit facilities. Commercial Airplanes’ fourth quarter revenue increased year-over-year by 13 percent to $10.5 billion, driven by higher deliveries.
Boeing's Fourth Quarter and Full Year 2023 Financial Results - Courtesy Boeing
The 737 program continues to deliver airplanes, and its production rate currently stands at 38 per month, while the 787 Dreamliner’s production rate stands at five per month. As previously mentioned, Boeing booked net orders for 611 commercial airplanes during Q4, including 411 737s, 98 777X, and 83 787s. The company also began certification flight testing on the 737-10 MAX, and resumed production on the 777X program during the quarter. Boeing Commercial Airplanes delivered 157 airplanes during Q4, and ended the period with a backlog at over 5,600 airplanes valued at $441 billion.
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
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