Boeing(US:BA) 智通财经网·2025-07-29 12:47Core Viewpoint - Boeing has shown signs of financial recovery in Q2, with improved cash flow and revenue growth, indicating the effectiveness of CEO David Calhoun's transformation plan initiated a year ago [1][2]. Financial Performance - Boeing's Q2 revenue reached $22.75 billion, a year-on-year increase of 34.6%, exceeding analyst expectations by approximately $1 billion [1]. - The adjusted loss per share was $1.24, better than the anticipated loss of $1.40 [1]. - The company consumed only $200 million in cash during the quarter, significantly lower than the expected $1.8 billion [1]. Operational Highlights - Boeing delivered 280 aircraft in the first half of the year, marking the highest number for the same period since 2018 [2]. - The defense segment achieved a profit of $110 million, while the commercial airplane business saw a reduction in losses compared to the previous year [3]. - The global services division remains the most profitable segment, with a profit margin of 19.9% and an operating profit of $1.05 billion [4]. Challenges and Risks - The transformation led by CEO Calhoun is still in its early stages, with ongoing concerns regarding the company's debt burden and market volatility [2]. - The certification of the last two models of the 737 Max may be delayed until 2026 due to redesign efforts [2]. - A potential strike at the St. Louis factory poses a new threat to recovery, as over 90% of workers voted against the company's proposal [3].