Let's take a look at shares of Boeing. The company reported results a short time ago this morning. It is now down by about one and a quarter percent.The company taking a near5 billion hit on its 777X program. A delay in terms of delivering the first aircraft. Joining us right now is Christine Lag.She is Morgan Stanley's senior aerospace and defense equity analyst. And Chris Christine, a lot of moving pieces with these earnings. Um some things to really feel good about.They were free free cash flow positive ...

Core Insights - Boeing's stock is down approximately 1.25% following the announcement of a nearly $5 billion charge related to the 777X program, which has faced delays in aircraft delivery [1][4] - The company reported positive free cash flow for the first time on a quarterly basis in 2023, with a revenue increase of 30% [2] - Boeing's backlog in commercial airplanes has risen to nearly $100 billion compared to December 2024, indicating strong demand [2] - The company achieved record deliveries of 160 airplanes in the quarter, the highest since 2018, reflecting positive operational momentum [3] Financial Performance - Boeing's earnings report highlighted a significant $5 billion charge for the 777X program, which was higher than the anticipated $4 billion, raising concerns about its long-term cash generation capabilities [4] - Despite the non-cash nature of the charge, it may have multi-year implications for cash flow, contributing to negative market sentiment [4] - The FAA certification process has been slower than expected, which has compounded the delays in the 777X program [4][5] Market Position and Outlook - The 777X program was initially expected to enter service in 2020, but delays have shifted focus away from it, especially as the company worked on resolving issues with the 737 Max and 787 [5][6] - Boeing's stock has performed well this year, up 44%, but the current challenges with the 777X program have led to a neutral rating from analysts, indicating a balanced risk-reward scenario [6] - Analysts suggest focusing on suppliers to Boeing, such as Helmet (HWM) and RTX, which may benefit from increased production rates of the 737 Max and 787 without being affected by the 777X issues [7]

Core Insights - Boeing reported a 30% increase in revenue year-over-year, exceeding $23 billion, driven by strong commercial deliveries, marking the highest quarterly total since 2018 [2] - The company generated over $238 million in free cash flow, a significant improvement from last year's negative $2 billion [2] - Despite these gains, Boeing posted a net GAAP loss of over $5 billion, approximately $7 per share [2] Revenue and Performance - The Commercial Airplanes division saw revenue growth of nearly 50%, reaching $11.1 billion, but still faced a negative margin of 48% [3] - The Defense, Space & Security segment returned to profitability with a 1.7% margin and $6.9 billion in revenue [4] - Global Services continued to perform well, achieving 17.5% margins on $5.4 billion in sales [4] Challenges and Setbacks - A significant $5 billion charge was related to the delayed 777X jet, with certification now expected in 2027, impacting the company's financial progress [3] - The company is facing a machinists' strike in its Defense unit, which has entered its fourth month, adding to operational challenges [5] - Boeing's total debt stands at $53.4 billion, more than double its cash and securities totaling $23 billion [5] Market Reaction - Boeing's stock declined about 1% before the market opened, indicating investor skepticism despite the positive cash flow milestone [6]

Core Viewpoint - Boeing reported third-quarter earnings, achieving a revenue beat but falling short on earnings expectations [1] Financial Performance - The company exceeded revenue expectations for the third quarter [1] - Earnings results did not meet analysts' forecasts [1]

Core Insights - Airplane deliveries increased significantly, contributing to a surge in revenue for the company [1] - The defense and space business of the company demonstrated strong performance [1] - However, the company reported wider-than-expected losses [1] Group 1: Financial Performance - Revenue surged due to increased airplane deliveries [1] - Losses were wider than anticipated, indicating potential challenges in cost management or other operational issues [1] Group 2: Business Segments - The defense and space sector showed strength, suggesting resilience and potential growth opportunities in this area [1]

分组1 - Nvidia's CEO Jensen Huang participated in an AI summit, indicating the company's ongoing focus on artificial intelligence [1] - The Federal Reserve is expected to announce a 25 basis point interest rate cut, with a 99.9% probability priced in by traders [2] - Concerns arise regarding the Federal Reserve's economic analysis due to data being on hold from the government shutdown [3] 分组2 - OpenAI has restructured into a nonprofit named the OpenAI Foundation, holding a controlling stake valued at approximately $130 billion in its for-profit entity, OpenAI Group PBC [4] - Microsoft has a significant investment in OpenAI's for-profit arm, amounting to $135 billion, representing about 27% of the company on a diluted basis [4][5] 分组3 - Boeing reported earnings for Q3, returning to cash-positive status for the first time since 2023, despite a $4.9 billion charge related to 777X delays [10] - The company is on track for its highest delivery numbers since 2018, with CEO Kelly Ortberg noting positive signs across the business [11]

The company pushed back the first delivery of its new 777X model to 2027, citing regulatory hangups. ...

Financial Performance - Boeing reported a wider than expected loss of $747 per share for Q3, compared to street estimates of $459 per share [1] - Revenue exceeded expectations at $27 billion, a 2327% increase [2] - Operating cash flow improved to $112 billion, compared to negative $135 billion a year ago [2] - Boeing reported positive free cash flow of $236 million for the first time since Q4 2023, a significant improvement from negative $196 billion in Q3 2024 [3] - Boeing commercial airplanes reported a loss of $535 billion, compared to a loss of $4 billion last year [4] - The defense division posted a profit of $114 million, a swing from a loss last year [4] Program Updates & Outlook - Boeing is taking a $49 billion charge for its 77X program due to certification delays [4] - The entry into service for the 77X is officially delayed until 2027 [4][5] - Certifications for the 737 Max -7 and -10 derivatives are expected next year [5]

Core Insights - Boeing reported a larger than expected loss of $747 per share for the third quarter, significantly higher than the street's expectation of $459 [1] - Revenue exceeded expectations at $27 billion, showing operational improvement with operating cash flow of $1.12 billion compared to a negative $1.35 billion a year ago [2] - The company achieved positive free cash flow of $236 million for the first time since Q4 2023, a significant improvement from a negative $1.96 billion in Q3 2024 [3] Financial Performance - Boeing's commercial airplanes division reported a loss of $5.35 billion, worsening from a loss of $4 billion last year [4] - The defense division posted a profit of $114 million, a turnaround from a loss in the previous year [4] Charges and Delays - Boeing is taking a $4.9 billion charge related to its 777X program, which was higher than some analysts anticipated [4] - The entry into service for the 777X has been officially delayed until 2027, confirming earlier speculation [5] Future Outlook - Certifications for the next derivatives of the 737 Max, the -7 and -10 models, are expected next year [5]

波音发布财报，2025年第三季度营收232.7亿美元，同比增长30%；第三季度调整后自由现金流2.38亿美 元。 (本文来自第一财经) ...