2023-07-27 07:00:00
Boeing yesterday presented the financial results for the second quarter, which shows a turnover up 18% at $19.75 billionand a net loss reduced from 160 to 149 million dollars.
The results for the second quarter of 2023 reflect according to the communiqué of the American group “an increase in the volume of activity of the Boeing Commercial Aviation division (BCA) and lower margins in defense.” In addition, Boeing generated operating cash flow and free cash flow of $2.9 billion and $2.6 billion respectively (non-GAAP data). At the end of the second quarter, the group’s overall order book totaled $440 billion.
« We achieved a second quarter robust, marked by an increase in deliveries and the generation of solid free cash flow. We are well positioned to achieve the operational and financial objectives that have been set for this fiscal year, as well as in the longer term. said Dave Calhoun, Chairman and CEO of Boeing. ” We are aware of the work we still have to do, but we are making progress in our recovery and improving the stability of our factories and our supply chain in order to respect the commitments made to our customers. Faced with a demand that remains strong, we are regularly increasing the production rates of our key programs and continuing to invest in favor of our employees, our products and our technologies. ».
In the second quarter, the revenue of the Boeing Commercial Aviation division (BCA) rose to $8.8 billion, “driven by higher deliveries of 787 Dreamliner aircraft.” The operating margin of -4.3% “also reflects expenses and abnormal costs recorded during the period, particularly in the field of research and development”. In the second quarter, Boeing recorded 460 net ordersincluding 220 devices for Indian water and 39 for Riyadh Airto which is added a “commitment” of Ryanair for the purchase of up to 300 copies of the 737 MAX 10. What quarters, BCA a delivered 136 aircraft ; its order book (backlog) counts “more than 4,800 aircraft representing a value of 363 billion dollars”.
The program 737 is currently moving towards monthly production rates of 38 aircraft and expects to reach 50 units per month in 2025/2026. Program officials continue to expect the delivery of “400 to 450 devices this year”. For its part, the program 787 increased its production rates to “four units per month and plans to increase to five units at the end of 2023, before reaching the monthly rate of ten aircraft over the course of 2025/2026”. Program officials still expect to deliver “70 to 80 aircraft during the year”. We also note the statement of Chief Financial Officer Brian West, according to which Boeing “accelerates the resumption of production of 777X until the end of this year, rather than the beginning of 2024», and that of the CEO announcing that 90% of MAX in China resumed service.
A China Southern Airlines @CSAIRGLOBAL @BoeingAirplanes 737-8 #737MAX LN8254 stored at Boeing’s Renton Factory @FlyRenton pic.twitter.com/2XmzGdNDTM
— BXTS (@BXTS_CS) July 26, 2023
Boeing confirms its forecasts for fiscal 2023: operating cash flow will be between $4.5 billion and $6.5 billion, and free cash flow between $3.0 and $5.0 billion (non-GAAP data). I’indebtednessof the Group was 52.3 billion dollars, compared to 55.4 billion dollars at the beginning of the quarter due to the repayment of maturing debts. The Group has available credit lines for an amount of 12.0 billion dollars. Cash and investments in marketable securities totaled $13.8 billion, down from $14.8 billion at the start of the quarter.
On the first semester 2023Boeing’s revenue is up 28% compared to H1 2022 at $37.67 billion its net loss being halved from 1082 to 574 million dollarsstill compared to H1 2022.
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#Boeing #red #2nd #quarter
