Boeing Co.
Boeing Reports Fourth Quarter 2023 Financial Results and Business Developments
Summary
On January 31, 2024, The Boeing Company announced its financial results for the fourth quarter of 2023, reporting a net loss of $30 million, or $0.04 per share, on revenues of $22.0 billion. Despite the net loss, the company generated $3.4 billion in operating cash flow and $3.0 billion in free cash flow (non-GAAP). For the full year 2023, Boeing reported a net loss of $2.2 billion, or $3.67 per share, on revenues of $77.8 billion. The company's backlog grew to $520 billion, and it delivered 528 commercial airplanes. Boeing's commercial airplane segment saw improved operating margins and revenue due to higher deliveries and a favorable mix. The defense, space, and security segment also experienced increased revenue but reported an operating loss. Global services reported higher revenue and operating margins. The full financial details and additional information are provided in the press release furnished as Exhibit 99.1.
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About Boeing Co.
Boeing Co. is a global leader in aerospace and defense, renowned for its significant contributions to the aviation industry. The company designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. Beyond commercial aircraft, Boeing provides products and services to the defense and space sectors, including military aircraft and advanced technology systems. This dual focus allows Boeing to operate at the intersection of commercial aviation and defense industries. As the manufacturer of some of the world’s most widely used aircraft, such as the 737, 777, and the Dreamliner series, Boeing plays a crucial role in international air travel and cargo transit. Its innovations impact various industries, including manufacturing, national defense, and space exploration. Headquartered in Chicago, Illinois, Boeing remains a pivotal player in advancing technological frontiers and supporting global infrastructure through its aerospace and defense capabilities.
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