Executive Summary
The Boeing Company reported Q4 2023 earnings characterized by improved revenue growth and moderating losses amidst significant operational challenges, particularly related to the recent grounding of its 737 MAX 9 aircraft. Total revenue for the quarter reached $22.018 billion, marking a year-over-year increase of 10.2% driven by higher commercial aircraft deliveries and favorable product mix. However, the company posted a net loss of $23 million, reflecting ongoing issues related to cost management and production inefficiencies. Management emphasized their commitment to enhancing quality controls and regaining customer confidence following the MAX safety incident. Despite the challenges, free cash flow of $3 billion and a strong backlog of orders provide a positive outlook for the company's recovery trajectory and operational stability moving forward.
Key Performance Indicators
Revenue
22.02B
QoQ: 21.62% | YoY:10.20%
Gross Profit
2.70B
12.20% margin
QoQ: 131.50% | YoY:45.31%
Operating Income
283.00M
QoQ: 135.02% | YoY:176.90%
Net Income
-23.00M
QoQ: 98.59% | YoY:96.53%
EPS
-0.04
QoQ: 98.52% | YoY:96.40%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue:** $22.018 billion (up 10% YoY, 21.6% QoQ)
- **Net Income:** -$23 million (loss), EPS of -$0.04
- **Free Cash Flow:** $3 billion
- **Backlog:** Over 5,600 aircraft valued at $441 billion
- **Operating Income:** $283 million, with an operating margin of 1.3%