Boeing (BA) Q2 2022 earnings are below estimates


An aerial view of Boeing 777X and Boeing 737 MAX 10 aircraft parked at King-Boeing Field County International Airport in Seattle, Washington on June 1, 2022.

Lindsey Wasson | Reuters

Boeing on Wednesday reported revenue and adjusted loss below analysts’ estimates, but the aircraft maker stuck to its forecast for a return to free cash flow in 2022.

The company has just won high-profile orders at the Farnborough Air Show, such as those for 100 737 Max 10s from Delta Air Lines.

Here’s how the company performed against analyst estimates compiled by Refinitiv:

  • Adjusted loss per share: 37 cents vs. expected loss of 14 cents.
  • Revenue: $16.68 billion versus $17.57 billion expected.

CEO Dave Calhoun said earlier this month that the company produces an average of 31,737 Max jetliners each month. He said the company would not ramp up production too quickly due to supply chain and labor constraints. Its rival Airbus has expressed similar concerns.

“Even with high demand, we will not chase production rates or push our system too fast,” Calhoun said in a staff memo Wednesday. “With safety and quality at the forefront, we will prioritize stability and predictability.”

He also reiterated that Boeing is “in the final stages” of preparations to resume deliveries of its 787 Dreamliners, which were halted for more than a year after manufacturing defects were detected.

Boeing executives will discuss the results with analysts at 10:30 a.m. Wednesday, when they likely face questions about the 737 Max’s return to flights in China, the plane’s key customer, the 777X’s schedule and its forecast. cash flow for this year and next year.

Analysts are also likely to ask Boeing executives to clarify when they hope to achieve U.S. certification for the 737 Max 10, the largest in the Max family.

Boeing shares are down more than 22% so far this year. The shares rose more than 3% in premarket trading after the earnings release.

This is breaking news. Check back for updates.


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