Boeing Stock is Edging Out Airbus Again, Here's How

Core Insights - Boeing faced significant challenges in 2024, including quality control issues, public relations crises, and a union strike, but managed to resolve the strike and return to normal operations in 2025 [1] - Boeing's backlog remains strong at $500 billion, providing a solid foundation for future operations despite ongoing headcount reductions [1] Delivery Performance - In January 2025, Boeing delivered 45 new aircraft, surpassing Airbus's 25 deliveries, marking the first time Boeing outperformed Airbus in deliveries since March 2023 [2] - Boeing's deliveries included 40 Boeing 737 MAX jets, with significant contributions from major customers like United Airlines and Southwest Airlines [2] Financial Results - Boeing reported a non-GAAP loss of $5.90 per share for Q4 2024, significantly missing analyst estimates of a loss of $3.22 per share [4] - Revenues for Q4 2024 decreased by 30.8% year-on-year to $15.24 billion, falling short of consensus estimates of $15.80 billion [5] Segment Performance - The Commercial Airplanes segment saw revenues drop 55% year-on-year to $4.76 billion, with a negative operating margin of 43.9% [7] - The Defense, Space and Security segment's revenues fell 20% year-on-year to $5.41 billion, also reporting a negative operating margin of 41.9% [8] - The Global Services segment experienced a revenue increase of 6% year-on-year to $5.12 billion, with a positive operating margin of 19.5% [9] Backlog and Orders - The Commercial Airplanes segment has a backlog of over 5,500 planes valued at approximately $435 billion, with 204 net orders booked in Q4 2024 [7] - The Defense, Space and Security segment's backlog stands at $64 billion, with 29% of orders coming from international customers [8]