Boeing Reports Disappointing Q4 Earnings, But CEO Sees 'Explosive Start' To 2023 In Company's 'Sweet Spot
Boeing Co BAshares are taking offafter being trapped on the runway for most of the morning. The company turned in disappointing fourth-quarter results on Wednesday, but CEO Dave Calhoun says the planemaker has tailwinds under its wings.
"If we look at the way we finished the quarter, we focused on deliveries and we focused on cash flow as the primary metrics, and on both of those fronts we exceeded even our own expectations," Calhoun said Wednesday on CNBC's "Squawk On The Street."
What Happened:Boeingreported a quarterly net lossof $1.75 per share, which came in significantly belowestimates for positive earnings of 26 cents per share.
The company turned infourth-quarter revenue of $19.98 billion, which missedaverage analyst estimatesof $20.38 billion, according toBenzinga Pro.
Boeing's top-line results didn't miss consensus estimates by much, Calhoun said, adding deliveries were betterthanexpected and cash flow was incrediblystrong. The company generated over $3 billion in cash flow in just the fourth quarter, which he said was "pretty remarkable."
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