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Boeing's Q4 Earnings Lag Estimates, Revenues Decrease Y/Y
BABoeing(BA) ZACKS·2025-01-28 16:26

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 5.90pershare,worsethantheZacksConsensusEstimateofalossof5.90 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 20.38pershare,exceedingtheZacksConsensusEstimateofalossof20.38 per share, exceeding the Zacks Consensus Estimate of a loss of 17.92, and worsening from a loss of 5.81persharein2023[3].−ThecompanyreportedaGAAPlossof5.81 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 15.24billion,slightlyabovetheZacksConsensusEstimateof15.24 billion, slightly above the Zacks Consensus Estimate of 15.19 billion, but down 31% from 22.02billioninthepreviousyear[4].−Forthefullyear2024,revenuestotaled22.02 billion in the previous year [4]. - For the full year 2024, revenues totaled 66.52 billion, falling short of the Zacks Consensus Estimate of 66.84billionanddown1466.84 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 4.76billion,withanoperatinglossof4.76 billion, with an operating loss of 2.09 billion, a significant drop from an operating profit of 0.04millionintheprioryear[7].−Boeingdelivered57commercialplanesduringthequarter,a640.04 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 5.41billion,down205.41 billion, down 20% year over year, with an operating loss of 2.26 billion, worsening from a loss of 0.10billioninthepreviousyear[9].−GlobalServicesrevenuesimprovedby60.10 billion in the previous year [9]. - Global Services revenues improved by 6% year over year to 5.12 billion, with an operating income of 998million,up19998 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 510.51billionattheendofthethirdquarter[6].FinancialCondition−Boeingended2024withcashandcashequivalentsof510.51 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 12.69billionattheendof2023,whileshort−termandotherinvestmentsincreasedto12.69 billion at the end of 2023, while short-term and other investments increased to 12.48 billion from 3.27billion[12].−Long−termdebtroseto3.27 billion [12]. - Long-term debt rose to 52.59 billion from 47.10billionattheendof2023,withanoperatingcashoutflowof47.10 billion at the end of 2023, with an operating cash outflow of 12.08 billion compared to an inflow of 5.96billioninthepreviousyear[12].−Freecashoutflowtotaled5.96 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].