Boeing Shares Drop On Missing Q4 Earnings Consensus, 737 Program Is Stabilizing Monthly Production Rate A

• Boeing Co'sBA fourth-quarter sales increased 35% year-on-year to $19.98 billion,missing the consensus of $20.38 billion.
• Adjusted loss per share of $(1.75) missed the consensus of $0.26.
• Boeing delivered 152 commercial airplanes in Q4compared to 99 last year. It recorded 376 net orders in Q4.
• Commercial Airplanes unit revenue increased by 94% Y/Y to $9.22 billion.
• Defense, Space & Security unit revenue grew by 5% year-on-year to $6.18 billion.
• Global Services unit revenue grew by 6% Y/Y to $4.57 billion.
• Boeing generated a free cash flow of $3.13 billion, up from $494 million in the same period a year ago. It held $17.2 billion in cash and equivalents.
• The total backlog was $404 billion, including over 4,500 commercial airplanes.
• Boeing said, "the 737 program is stabilizing production rate at 31 per month with plans to ramp production to approximately 50 per month in the 2025/2026 timeframe."
• 2023 Outlook:Boeing reaffirmed its outlook of $3.0 billion - $5.0 billion free cash flow and $4.5 billion - $6 billion in operating cash flow.
• Price Action:BA shares are down 2.35% at $207 during the premarket session on the last check Wednesday.

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