Boeing’s QQ3 2024 results reflect a revenue level of USD 17.84 billion accompanied by a material cost of revenue of USD 21.347 billion, resulting in a negative gross profit of USD 3.507 billion and a substantial operating loss of USD 5.761 billion. Net income registered a loss of USD 6.17 billion, with earnings per share of negative USD 9.97. On a year-over-year basis, revenue declined modestly by 1.46%, while profitability deteriorated aggressively (gross profit year-over-year down ~401%, operating income down ~613%). QoQ, revenue rose about 5.8%, but the group’s margins remained deeply negative, indicating ongoing structural cost challenges and likely one-off program costs or mix effects. Cash flow remained negative in operating activities (USD -1.345 billion) and free cash flow was negative (USD -1.956 billion), underscoring a continued cash burn and balance sheet pressure.
Key Performance Indicators
Revenue
Decreasing
17.84B
QoQ: 5.77% | YoY: -1.46%
Gross Profit
Decreasing
-3.51B
-19.66% margin
QoQ: -385.35% | YoY: -401.03%
Operating Income
Decreasing
-5.76B
QoQ: -428.53% | YoY: -613.00%
Net Income
Decreasing
-6.17B
QoQ: -328.77% | YoY: -277.14%
EPS
Decreasing
-9.97
QoQ: -327.90% | YoY: -269.26%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: USD 17.84B (YoY -1.46%, QoQ +5.77%)
Gross Profit: USD -3.51B (YoY -401.03%, QoQ -385.35%)
Operating Income: USD -5.76B (YoY -613.00%, QoQ -428.53%)
Net Income: USD -6.17B (YoY -277.14%, QoQ -328.77%)
EPS: USD -9.97 (YoY -269.26%, QoQ -327.90%)
EBITDA: USD -5.05B (EBITDA margin -28.32%)
Net Cash from Operations: USD -1.35B
Free Cash Flow: USD -1.96B
Cash End of Period: USD 9.96B
Total Assets: USD 137.70B
Total Liabilities: USD 161.26B
Total Stockholders’ Equity: USD -23.55B (negative equity)
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
17.84B
-1.46%
5.77%
Gross Profit
-3.51B
-401.03%
-385.35%
Operating Income
-5.76B
-613.00%
-428.53%
Net Income
-6.17B
-277.14%
-328.77%
EPS
-9.97
-269.26%
-327.90%
Key Financial Ratios
Gross Profit Margin
Weak
-0.20%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
-0.32%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.35%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.04%
Return on assets suggests inefficient capital allocation
Return on Equity
Strong
26.20%
Return on equity demonstrates excellent capital efficiency and value creation
Current Ratio
Adequate
1.13
Current ratio meets minimum requirements but limited cushion
Debt to Equity
Conservative
-2.45
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-3.82x
Negative earnings make P/E ratio not meaningful
Price to Book
Undervalued
-4.01x
Trading below book value, potential value opportunity or distressed
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