Core Viewpoint - Boeing reported Q4 results that missed street estimates, with revenue of $15.2 billion and an adjusted loss of $5.90 per share, compared to expectations of $16.2 billion in sales and a $3.00 loss per share [1][3] Financial Performance - Q4 revenue of $15.2 billion represented a 31% year-over-year decline [3] - The company delivered 57 airplanes in Q4, reflecting a 64% year-over-year decline due to a strike at its production unit [3] - Revenue from the commercial airplanes segment declined 55% year-over-year, while defense, space, and security revenue decreased by 20%, and global services sales increased by 6% [3] - Operating margin plummeted to -26.5% in Q4, down from 0.4% in the prior-year quarter [3] - The adjusted loss per share was $(5.90), compared to $(0.47) per share in the prior-year quarter [3] Production Outlook - Despite the disappointing Q4 results, management expressed optimism for the second half of the year, having finalized an agreement with the International Association of Machinists and Aerospace Workers and resumed production [4] - The FAA has capped production at 38 units per month, but Boeing is working to lift this cap, with positive results from a recent safety management system assessment [4] - Boeing expects to reach the production target of 38 aircraft per month later this year, which is sooner than previously anticipated [4] Stock Performance - BA stock has underperformed significantly, with a -32% return since the beginning of 2024, compared to a 27% increase in the S&P 500 [2] - The stock price has dropped from over $260 in late 2023 to under $180 currently, with annual returns being volatile over the past four years [5] - Current trading levels of around $180 reflect a price-to-sales ratio of 1.6x, below the average of over 1.9x over the last five years [7] Future Expectations - There is potential for recovery in BA stock, driven by optimistic production targets and a focus on quality control and efficiency improvements [7] - The company is expected to return to profitability over the next year, with higher production targets and the possibility of the FAA lifting the production cap [7]

分组1 - The primary goal of the Cash Flow Kingdom Income Portfolio is to achieve an overall yield in the range of 7% - 10% by combining various income streams for a steady payout [1] - Boeing Company reported a significant loss in its fourth quarter earnings, indicating ongoing operational issues despite a generally positive industry outlook [1] - The portfolio's price may fluctuate, but the income stream remains consistent, highlighting the focus on stable cash flows [1] 分组2 - Jonathan Weber has been active in the stock market and focuses on value and income stocks, occasionally covering growth stocks [2]

Core Viewpoint - Boeing's stock experienced an increase despite reporting a significant loss for 2024, indicating that the market had already anticipated the poor financial results [1][2][3]. Financial Performance - Boeing reported a loss of $11.8 billion for the fiscal year 2024, marking its largest loss since 2020, with a notable $5.4 billion loss from its defense segment [2]. - In comparison, competitor RTX reported a net income of $7.7 billion for the same period, highlighting the challenges Boeing faces in its defense sector [2]. Market Reaction - The stock price of Boeing rose by 4.1% on the day of the earnings report, having peaked at a 7.6% increase earlier, while the S&P 500 and Nasdaq Composite also saw gains of 0.8% and 1.8%, respectively [1]. Production Outlook - Boeing is ramping up production more effectively than anticipated, having delivered 33 737 jets in January and is expected to reach its cap of 38 jets per month soon [4]. - The company's leadership indicated that the production cap imposed by U.S. regulators would likely be lifted later in the year, allowing Boeing to exceed its current production capacity [4][5].

Fourth Quarter 2024 Earnings Review Kelly Ortberg President and Chief Executive Officer Brian West Executive Vice President and Chief Financial Officer January 28, 2025 Copyright © 2025 Boeing. All rights reserved. Forward-Looking Statements This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and other ...

Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 150 points, closing at 44,865.65, a rise of 0.34% [1] - The NASDAQ rose by 1.74% to 19,678.66, while the S&P 500 gained 0.83% to 6,062.21 [1] - Information technology shares surged by 2.9%, while utilities shares fell by 1.9% [1] Company Performance - Boeing Co reported a 31% year-over-year revenue decline to $15.242 billion for Q4 2024, missing the consensus estimate of $16.174 billion [2] - The adjusted loss per share for Boeing grew to $5.90 from $0.47 in the same quarter of 2023, also missing the consensus of a $2.44 loss [2] Stock Movements - Brighthouse Financial, Inc. shares increased by 17% to $59.68 following reports of a potential sale [8] - Silexion Therapeutics Corp shares surged 100% to $1.16 after reporting significant tumor reduction in pancreatic cancer models [8] - Crane Company shares rose by 12% to $175.93 after releasing fourth-quarter results [8] - Sharps Technology, Inc. shares dropped 71% to $0.4300 due to a $20 million underwritten public offering announcement [8] - Leap Therapeutics, Inc. shares fell 70% to $0.6639 after reporting initial clinical data from studies [8] - SAB Biotherapeutics, Inc. shares decreased by 49% to $2.22 following the disclosure of Phase 1 clinical results for SAB-142 [8]

Group 1 - Boeing is collaborating with Elon Musk to expedite the delivery of the delayed and overbudget Air Force One replacements [1][3] - The two Boeing 747s designated as the next Air Force One are over $2 billion over budget and years behind schedule due to design changes, labor constraints, and supply chain issues [2] - An updated delivery schedule from Boeing is anticipated in the spring, but it remains uncertain if the aircraft will be delivered before the end of Trump's current term [3] Group 2 - The deal for the Air Force One aircraft was struck during Trump's first term after he expressed concerns over high costs and threatened to cancel the order [2] - Boeing's CEO Kelly Ortberg mentioned the engagement with Elon Musk aims to eliminate costs and ensure earlier delivery of the aircraft [3]

Core Viewpoint - Boeing Company reported significant losses in both the fourth quarter and full year of 2024, with various operational challenges impacting its financial performance [1][3]. Financial Performance - The adjusted loss for the fourth quarter of 2024 was $5.90 per share, worse than the Zacks Consensus Estimate of a loss of $3.22, and deteriorated from a loss of 47 cents per share in the same quarter last year [1][2]. - For the full year 2024, Boeing incurred an adjusted loss of $20.38 per share, exceeding the Zacks Consensus Estimate of a loss of $17.92, and worsening from a loss of $5.81 per share in 2023 [3]. - The company reported a GAAP loss of $5.46 per share for the fourth quarter, compared to a loss of 4 cents per share in the prior year [2]. Revenue Analysis - Revenues for the fourth quarter amounted to $15.24 billion, slightly above the Zacks Consensus Estimate of $15.19 billion, but down 31% from $22.02 billion in the previous year [4]. - For the full year 2024, revenues totaled $66.52 billion, falling short of the Zacks Consensus Estimate of $66.84 billion and down 14% from $77.79 billion in 2023 [5]. Segment Performance - The Commercial Airplanes segment saw revenues decline by 55% year over year to $4.76 billion, with an operating loss of $2.09 billion, a significant drop from an operating profit of $0.04 million in the prior year [7]. - Boeing delivered 57 commercial planes during the quarter, a 64% decrease year over year, but maintained a backlog of over 5,500 airplanes valued at $435 billion [8]. - The Defense, Space & Security segment recorded revenues of $5.41 billion, down 20% year over year, with an operating loss of $2.26 billion, worsening from a loss of $0.10 billion in the previous year [9]. - Global Services revenues improved by 6% year over year to $5.12 billion, with an operating income of $998 million, up 19% from the prior year [10]. Backlog Status - Total backlog at the end of the fourth quarter of 2024 was $521.34 billion, an increase from $510.51 billion at the end of the third quarter [6]. Financial Condition - Boeing ended 2024 with cash and cash equivalents of $13.80 billion, up from $12.69 billion at the end of 2023, while short-term and other investments increased to $12.48 billion from $3.27 billion [12]. - Long-term debt rose to $52.59 billion from $47.10 billion at the end of 2023, with an operating cash outflow of $12.08 billion compared to an inflow of $5.96 billion in the previous year [12]. - Free cash outflow totaled $14.31 billion at the end of 2024, contrasting with a free cash inflow of $4.43 billion at the end of 2023 [13].

Core Insights - Boeing Co's stock is rising due to its recovery plan despite reporting steeper-than-expected losses for Q4 and its largest annual loss since 2020 [1] - The company is addressing issues in its commercial and defense units and plans to gradually increase production and deliveries of its 737 aircraft [1] - Boeing is also working to expedite the delivery of two Air Force One aircraft [1] Stock Performance - Boeing's stock is up 4.3%, trading at $182.74, marking its largest single-day percentage gain in over a year and reducing its year-over-year deficit to 10.5% [2] - The stock reached its highest level since August and bounced off its ascending 40-day moving average earlier this month [2] Options Activity - Options traders have shown increased bullish sentiment over the past 10 weeks, with a 50-day call/put volume ratio of 1.80, ranking in the 80th percentile of its annual range [3] - Today's options activity includes 59,000 calls and 27,000 puts traded, which is five times the intraday average volume [4] - The most popular contract is the weekly 1/31 185-strike call, indicating a preference for opening positions [4]

Core Insights - Boeing reported an annual loss of $11.83 billion, the largest since 2020, due to challenges in its commercial and defense units and the impact of a strike by US west coast factory workers [1] - The company is facing increased competition from Airbus and scrutiny from regulators and customers following a series of operational missteps [1] - Boeing's shares rose 0.5% in pre-market trading despite the reported losses [1] Financial Performance - The company experienced a quarterly cash burn of $4.1 billion, which was slightly better than analysts' expectations of $4.26 billion [2] - In the fourth quarter, Boeing reported a loss of $3.86 billion, attributed to disappointing charges in fixed-price defense programs, with revenue falling 31% to $15.24 billion, missing expectations of $16.21 billion [3] - The quarterly adjusted loss per share was $5.90, significantly higher than the expected loss of $3 per share [4] - Cash burn for 2024 was reported at $14.3 billion, compared to a cash flow of $4.43 billion in 2023 [4] Operational Challenges - Boeing has incurred over $30 billion in losses since 2019, primarily due to two fatal crashes of the 737 Max, which raised production quality and safety concerns [5] - The defense, space & security business reported a loss of $5.41 billion in 2024, impacted by overruns on fixed-price programs [6] - The company is working on improving its supply chain and has returned to an output rate of five 787 jets per month by the end of 2024, despite facing delays in certain areas [6] Strategic Initiatives - CEO Kelly Ortberg emphasized a four-part plan to turn the business around, which includes a multi-year effort to address Boeing's corporate culture [4] - Ortberg stated that the company is now more proactive in identifying risks associated with its defense programs [3]

Boeing posted weaker-than-expected Q4 2024 earnings as labor strikes and defense program charges weighed heavily on its results.Aerospace and defense giant Boeing (BA -0.51%) reported disappointing fourth-quarter and full-year results for 2024 on Tuesday, Jan. 28. The company recorded a challenging quarter, falling short of expectations due to external disruptions and strategic hurdles. Boeing reported a core earnings loss of $5.90 per share, notably below the forecasted $3.22 per share loss. Revenue for th ...