Home Markets Boeing ( BA ) Q4 2022 Earnings

Boeing ( BA ) Q4 2022 Earnings

by SuperiorInvest

A Boeing 747-8F operated by AirBridgeCargo takes off from Leipzig/Halle Airport.

Jan Woitas | Picture Alliance | Getty Images

Boeing reported a $663 million loss in the fourth quarter as supply chain issues hurt results, despite an increase in aircraft sales and deliveries which increased revenue.

Airlines and aircraft manufacturers have benefited from a sharp recovery in air travel, one of the hardest-hit industries during the pandemic.

Still, Boeing generated $3.1 billion in cash flow in the fourth quarter, more than analysts had expected, and $2.3 billion for the year, the most since 2018, before the second of two fatal 737 Max crashes left the company years of crisis. .

Boeing shares fell about 1% in premarket trading after the results were released.

Here’s how Boeing fared in fourth quarter compared to analyst estimates conducted by Refinitiv:

  • Adjusted loss per share: $1.75 vs. expected earnings per share of 26 cents.
  • income: $19.98 billion vs. $20.38 billion expected.

Supply chain and labor shortages hurt its bottom line in the fourth quarter.

Boeing executives were hesitant to ramp up production.

“We’re proud of how we closed out 2022, and despite the obstacles ahead, we’re confident in the journey ahead,” CEO Dave Calhoun said in a message to employees. “We have a robust pipeline of development programs, are innovating for the future and are increasing investment to prepare for our next generation of products.”

This is the latest news. Watch for updates.

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