DALLAS – Boeing’s third-quarter 2022 financial results show a loss of US$3.3bn on total revenues of US$16.0bn.
While the company enjoyed a higher commercial volume, it continued to lose money on its fixed-price defense programs. The loss per share stood at US$5.49.
In brief, revenue from commercial aircraft deliveries rose to US$6.3bn compared to US$4.4bn for the same period in 2021, largely due to the resumption of Boeing 787 deliveries and higher 737 deliveries.
Q3 Commercial Aircraft Deliveries, Orders
A total of 112 commercial aircraft were delivered during the quarter, including nine Dreamliners. The American manufacturer also secured orders for 227 commercial aircraft, including 167 -737’s, 27 -767’s, 18- 777’s, and 15 -787’s. The Company’s current backlog on commercial includes over 4,300 airplanes valued at US$307bn.
Boeing President & CEO Dave Calhoun said, “We continue to make important strides in our turnaround and remain focused on our performance.” He added, “We generated strong cash in the quarter and are on a solid path to achieving positive free cash flow for 2022.”
The general consensus from market watchers is that Boeing has missed Wall Street estimates.
Featured image: Boeing 787-9 Dreamliner N789EX. Photo: Brandon Farris/Airways