Boeing posts Q3 revenue beat, improving cash flow burn rate as CEO Ortberg's turnaround plan takes off

Core Insights - Boeing reported Q3 revenue of $23.27 billion, exceeding Bloomberg consensus of $22.29 billion, marking a 30% increase year-over-year and an improvement from last quarter's $21.68 billion [2][3] - The company posted an adjusted loss per share of $7.47, higher than the estimated $4.92, primarily due to a one-time charge of $4.9 billion related to the 777X program [2][3] - Adjusted free cash flow improved to negative $238 million, significantly better than the estimated negative $884.1 million, compared to a net loss of $6.17 billion and negative free cash flow of $1.34 billion a year ago [2][3] Financial Performance - Operating cash flow improved to $1.12 billion, contrasting with estimates of negative $197 million [3] - Boeing's commercial deliveries reached 160 jets in Q3, up from 150 in the previous quarter and 116 a year ago, with 121 being 737 Max jets [4][3] Production and Development - The FAA approved Boeing to increase 737 MAX production from 38 to 42 aircraft per month, following the achievement of certain manufacturing and safety milestones [5][6] - The 777X program remains behind schedule and has not yet been certified, contributing to the significant charge taken this quarter [3][4]