Boeing Trims Q1 Earnings Loss on More Deliveries, Improving Recovery

‍SEATTLE — Boeing reported first-quarter earnings on Wednesday with a smaller-than-expected loss, beating analyst expectations and highlighting its recovering and strengthening deliveries.

The company recorded a first-quarter net loss of $7 million, down from $31 million a year prior. Its core loss per share was 20 cents, down from 49 cents last year and substantially beating analyst expectations of 83 cents.

Boeing posted US$22 billion in revenue, up 14% year-over-year.

"We're building on our momentum with a strong start to the year and growing record-breaking backlog across our business,” said Kelly Ortberg, Boeing president and chief executive officer. "With a continued focus on safety and quality, we're delivering high-quality commercial and defense products and services, while increasing production to uphold our customer commitments and get back to the iconic global aerospace company that leads our industry."

Boeing delivered 143 jets in the first quarter, a 10% increase from a year prior. The Boeing 737 accounted for 114 of the 143 deliveries, while widebody jets, including the 767, 777, and 787, accounted for 29.

The company continues to produce its 737 program at a 42-per-month rate, while it aims to increase it to 47 per month by the end of the year, according to Reuters.

Boeing booked 140 net orders for commercial jets in the first quarter, including Delta Air Lines (DL) and its order for 30 Boeing 787-10s.