ARLINGTON, Va. - The Boeing Company (NYSE:BA) [NYSE: BA] has reported its major program deliveries for the first quarter of 2024, with a total of 97 aircraft handed over across its commercial and defense operations. The aerospace giant is scheduled to release detailed financial results for the quarter on April 24.
In the commercial airplanes sector, Boeing delivered 67 of its 737 model, three 767s, and 13 of the 787 model, totaling 83 commercial aircraft for the quarter. On the defense front, the company delivered a combination of 14 aircraft, including six remanufactured AH-64 Apache helicopters, two CH-47 Chinook helicopters (one new and one renewed), one each of the F-15 and F/A-18 models, three KC-46 Tankers, and one P-8 model.
This announcement comes as the aerospace industry continues to recover from the setbacks caused by the global pandemic, with airlines and defense clients gradually increasing their operational capacities. Boeing's delivery figures are closely watched by investors as an indicator of the company's health and the demand for its products.
The company has emphasized that the delivery information will not be considered final until the quarterly financial results are issued later this month. The provided delivery numbers are a reflection of Boeing's current operational output and may be subject to adjustment.
The information in this report is based on a press release statement from The Boeing Company.
InvestingPro Insights
As the aerospace industry picks up momentum, The Boeing Company [NYSE: BA] is navigating through a challenging financial landscape. Ahead of its detailed financial results due on April 24, Boeing's delivery of 97 aircraft in the first quarter of 2024 is a testament to its operational resilience. Yet, investors are keeping a close eye on the company's financial health, with real-time data from InvestingPro painting a nuanced picture.
InvestingPro data shows Boeing's market capitalization stands at $110.12 billion, indicating the sheer size of the company within the sector. Despite a notable 16.79% revenue growth over the last twelve months as of Q1 2024, Boeing's financials reveal a negative P/E ratio of -49.56, which further adjusted for the last twelve months is -116.62. This underlines the company's current lack of profitability, a detail that analysts are watching closely. Additionally, the gross profit margin for the same period is reported at 11.89%, a number that reflects the challenges Boeing faces in terms of profitability.
InvestingPro Tips suggest that while net income is expected to grow this year, analysts have revised their earnings expectations downwards for the upcoming period, indicating potential concerns over future profitability. Moreover, Boeing is recognized as a prominent player in the Aerospace & Defense industry, yet it is also known for its stock price volatility and is currently trading near its 52-week low. These insights could be crucial for investors considering Boeing's stock, especially in light of the company's next earnings date on April 24.
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