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ARLINGTON, Va. - The Boeing Company (NYSE:BA) reported its first-quarter financial results, revealing a mix of improved revenue alongside continued losses. Despite an 18% increase in revenue to $19.5 billion, driven by 130 commercial deliveries, the aerospace giant recorded a GAAP loss per share of ($0.16) and a core (non-GAAP) loss per share of ($0.49).
Operational performance improvements were overshadowed by an operating cash flow deficit of ($1.6) billion and a free cash flow shortfall of ($2.3) billion. The company’s total backlog, however, experienced growth, reaching $545 billion, which includes over 5,600 commercial airplanes.
Boeing’s Commercial Airplanes segment reported a first-quarter revenue of $8.1 billion with an operating margin of (6.6) percent, reflecting an increase in aircraft deliveries. The 737 program is on track to ramp up production to 38 planes per month within the year, while the 787 and 777X programs are also progressing.
The quarter saw Boeing secure 221 net orders, including substantial orders from Korean Air and BOC Aviation. Meanwhile, the Defense, Space & Security segment brought in $6.3 billion in revenue, with an operating margin of 2.5 percent. Notably, the segment was selected by the U.S. Air Force to design and build the next-generation F-47 fighter aircraft.
Global Services maintained steady revenue at $5.1 billion, with an operating margin of 18.6 percent, benefiting from a mix of favorable performances. The division achieved a milestone with the delivery of the 100th 767-300 Boeing Converted Freighter to SF Airlines and secured a contract to integrate electronic warfare systems for the U.S. Air Force’s F-15 Eagle.
The press release statement indicated that Boeing’s leadership remains committed to recovering the company’s performance amidst the current challenges in the industry. The company’s financial position shows cash and investments in marketable securities at $23.7 billion and consolidated debt marginally decreased to $53.6 billion.
Investors are advised to consider these results in light of Boeing’s ongoing efforts to stabilize operations and navigate through an evolving aerospace market. The information provided is based on a press release statement from Boeing.
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