The Boeing Company
BA
$196.91 -0.58%
Exchange: NYSE | Sector: Industrials | Industry: Aerospace Defense
Q4 2023
Published: Jan 31, 2024

Earnings Highlights

  • Revenue of $22.02B up 10.2% year-over-year
  • EPS of $-0.04 increased by 96.4% from previous year
  • Gross margin of 12.2%
  • Net income of -23.00M
  • ""We caused the problem, and we understand that. We will earn trust back through demonstrated action and a commitment to total transparency."" - Dave Calhoun

The Boeing Company (BA) Q4 2023 Financial Results: Recovery Momentum Amid Challenges

Executive Summary

The Boeing Company reported Q4 2023 earnings characterized by improved revenue growth and moderating losses amidst significant operational challenges, particularly related to the recent grounding of its 737 MAX 9 aircraft. Total revenue for the quarter reached $22.018 billion, marking a year-over-year increase of 10.2% driven by higher commercial aircraft deliveries and favorable product mix. However, the company posted a net loss of $23 million, reflecting ongoing issues related to cost management and production inefficiencies. Management emphasized their commitment to enhancing quality controls and regaining customer confidence following the MAX safety incident. Despite the challenges, free cash flow of $3 billion and a strong backlog of orders provide a positive outlook for the company's recovery trajectory and operational stability moving forward.

Key Performance Indicators

Revenue

22.02B
QoQ: 21.62% | YoY:10.20%

Gross Profit

2.70B
12.20% margin
QoQ: 131.50% | YoY:45.31%

Operating Income

283.00M
QoQ: 135.02% | YoY:176.90%

Net Income

-23.00M
QoQ: 98.59% | YoY:96.53%

EPS

-0.04
QoQ: 98.52% | YoY:96.40%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue:** $22.018 billion (up 10% YoY, 21.6% QoQ)
  • **Net Income:** -$23 million (loss), EPS of -$0.04
  • **Free Cash Flow:** $3 billion
  • **Backlog:** Over 5,600 aircraft valued at $441 billion
  • **Operating Income:** $283 million, with an operating margin of 1.3%

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 19,496.00 -0.16 +17.7% View
Q4 2024 15,242.00 -5.45 -30.8% View
Q3 2024 17,840.00 -9.97 -1.5% View
Q2 2024 16,866.00 -2.33 -14.6% View
Q1 2024 16,569.00 -0.56 -7.5% View
Q4 2023 22,018.00 -0.04 +10.2% View