Boeing Q2 Results, Loss Amidst Increased Airplane Deliveries

DALLAS — Plane manufacturer Boeing reported revenue for the second quarter of 2023 at US$19.8 billion, which was higher than predicted due to a 12% increase in aircraft deliveries. Despite the higher-than-anticipated revenue, a net loss of US$149 million tagged along for the quarter due to high costs.

"We had a solid second quarter with improved deliveries and strong free cash flow generation. We are well positioned to meet the operational and financial goals we set for this year and for the long term," said Dave Calhoun, Boeing president and chief executive officer.

"While we have more work ahead, we are making progress in our recovery and driving stability in our factories and the supply chain to meet our customer commitments. With demand strong, we're steadily increasing our production rates across key programs and growing investments in our people, products, and technologies."

In a Nutshell

A total of 136 commercial deliveries resulted in $19.8 billion in revenue and this was due to the fact of increased production rates - the Boeing 737 production transitioning to 38 per month, with an aim of getting to 50 per month by 2025/2026, and an increased Boeing 787 production to four per month.

The backlog stands at over 4800 commercial jets. By the end of 2023, an expected 400-450 Boeing 737 are to be delivered, while on the 787 side, between 70-80 airplanes.

Featured Image: Brandon Farris/Airways