Boeing(US:BA) 智通财经网·2025-04-23 13:01Core Viewpoint - Boeing's Q1 performance exceeded Wall Street expectations, providing a more stable operational foundation amid global trade disruptions affecting aircraft exports [1][2] Financial Performance - Boeing reported Q1 revenue of $19.5 billion, a year-over-year increase of 17.7%, although it fell short of market expectations [1] - The adjusted loss per share was $0.49, marking the smallest loss in over a year and significantly better than the anticipated $1.30 loss [1] - The company consumed $2.3 billion in free cash flow during the quarter, which was better than the $3.4 billion expected by analysts [1] - Net loss for the quarter was $31 million, compared to a net loss of $355 million in the same period last year [1] Operational Highlights - Boeing's backlog increased to $545 billion, including over 5,600 commercial aircraft [1] - CEO David Calhoun referred to 2025 as a "transformational year," with plans to increase the monthly production of the 737 Max to the regulatory limit of 38 aircraft [1] - The company aims to seek permission to further increase the monthly production to 42 aircraft later this year [1] Challenges and Trade Impact - Boeing remains vulnerable to the impacts of Trump's tariff policies, which have halted aircraft deliveries to China, the world's second-largest aviation market [2][3] - The CEO indicated that suppliers might also be affected by trade disputes, potentially raising costs and delaying production [2] - Boeing's current performance reflects only the tariff impacts implemented as of March 31 [2] Business Segments - Both the commercial and defense sectors showed improvement, with the defense segment achieving an operating profit of $155 million and a profit margin of 2.5% [2] - The commercial aircraft segment reduced its operating loss to $537 million [2] Production Quality and Future Plans - The CEO stated that Boeing is manufacturing higher-quality aircraft and delivering them at a more predictable pace [3] - Plans are in place to increase the monthly production of the 787 Dreamliner to 7 aircraft this year, contingent on stable factory operations [3] Strategic Moves - Boeing announced the sale of its flight navigation division and other digital assets to Thoma Bravo for $10.6 billion, marking a significant asset adjustment under the new CEO [4]