Industrials

The following is a summary of the The Boeing Company (BA) Q4 2023 Earnings Call Transcript: Financial Performance: Boeing’s Q4 revenue was $22 billion, up 10% year-over-year, driven by higher commercial volume and favorable mix. The company reported a core loss per share of $0.47, improved from the previous year due to better commercial volume, better mix, and lower abnormal costs. Free cash flow for the quarter was $3 billion, consistent with the prior year, primarily due to improved commercial deliveries and strong order activity. Boeing Commercial Airplanes booked 611 net orders, resulting in an inventory backlog valued at $441 billion, generating revenue of $10.5 billion, up 13%. Business Progress: Boeing is addressing safety issues that led to the grounding of its 737 MAX 9 planes and is working with the NTSB and FAA during the ongoing investigation. Several steps to enhance quality control measures have been implemented, such as […]

Boeing Q4 2023 Adj EPS $(0.47) Beats $(0.78) Estimate, Sales $22.02B Beat $21.10B Estimate.

Boeing Says 737 Program Continues To Deliver Airplanes And Its Production Rate Is Now At 38 Per Month; Says 787 Program Production Rate Is Now At Five Per Month.

Boeing (BA) reported a Q4 core loss Wednesday of $0.47 per share, narrower than its $1.75 core loss per share a year earlier. Analysts surveyed by Capital IQ expected a core loss of $0.79 per share. Revenue for the quarter ended Dec. 31 was $22.02 billion, up from $19.98 billion a year earlier. Analysts polled by Capital IQ expected $21.08 billion. The company gave no financial forecast for 2024, saying it is focusing on “taking comprehensive actions to strengthen quality at Boeing” amid scrutiny surrounding the Alaska Airlines blowout. Earlier in January, a fuselage plug on an emergency exit of a Boeing 737 MAX 9 came off mid-air, forcing an emergency landing. “As we move forward, we will support our customers, work transparently with our regulator and ensure we complete all actions to earn the confidence of our stakeholders,” said Chief Executive Dave Calhoun.

By Tomi Kilgore Strength in closely watched commercial airlines business helped push revenue well above expectations Boeing Co. assuaged investors’ fears for the moment on Wednesday, as the aerospace and defense giant’s fourth-quarter results beat Wall Street expectations in all of the key metrics, amid strength in the closely watched commercial-airplanes business. But a sense of uncertainty remained, as the company did not provide guidance for 2024 in the earnings release or in the investor presentation presented on the website. The post-earnings conference call with analysts starts at 10:30 a.m. Eastern. The stock (BA) bounced 3.4% in morning trading. It had closed Tuesday at the lowest price since Nov. 10, after tumbling 19.5% since the in-flight blowout of a panel on a Boeing 737 Max 9 plane led to groundings of aircraft. “The full ramifications of the latest MAX safety issues have yet to be felt, and we see it

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $209, cut $29, reflects a 25x multiple on our ’25 EPS estimate, well below BA’s three-year historical forward average of 40x, but merited, in our view, by what we see as rising regulatory risk. We widen our expected ’23 loss per share by $0.42 to -$5.75, trim our ’24 EPS estimate by $0.50 to $3.60, and trim ’25’s EPS view by $0.45 to $8.35. The WSJ has reported that the Boeing MAX-9 plug-type door at the center of the recent controversy was likely re-installed by BA without necessary bolts, and that there were lapses in process documentation. Meanwhile, BA has now withdrawn a previously-requested safety exemption for the yet-to-be-certified MAX-7. We believe this withdrawal reflects a “read the room” moment by BA