Boeing Reports First-Quarter 2022 Results

First Quarter 2022

  • 737 production and deliveries continue to increase; submitted 787 certification plan to the FAA
  • Launched 777-8 Freighter; now anticipate first 777-9 delivery in 2025
  • Recorded charges on fixed-price defense development programs as well as for impacts of the war in Ukraine
  • Operating cash flow of ($3.2) billion; continue to expect positive cash flow for 2022
  • Revenue of $14.0 billion; GAAP loss per share of ($2.06) and core (non-GAAP)* loss per share of ($2.75)
  • Total backlog of $371 billion; including nearly 4,200 commercial airplanes

1Q’22 Earnings: Press ReleasePresentationWebcast Replay

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The Boeing Company [NYSE: BA] reported first-quarter revenue of $14.0 billion, driven by lower defense volume and charges on fixed-price defense development programs, partially offset by commercial services volume. GAAP loss per share of ($2.06) and core loss per share (non-GAAP)* of ($2.75) also reflect $212 million of pre-tax charges for impacts of the war in Ukraine (Table 1). Boeing recorded operating cash flow of ($3.2) billion.

While the first quarter of 2022 brought new challenges for our world, industry and business, I am proud of our team and the steady progress we’re making toward our key commitments,” said Dave Calhoun, Boeing president and chief executive officer. “We increased 737 MAX production and deliveries and made important progress on the 787 by submitting our certification plan to the FAA. Despite the pressures on our defense and commercial development programs, we remain on track to generate positive cash flow for 2022, and we’re focused on our performance as we work through certification requirements and mature several key programs to production. Leading with safety and quality, we’re taking the right actions to drive stability throughout our operations, deliver on our commitments to customers and position Boeing for a sustainable future.

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