Boeing reported second quarter revenue of $24.6 billion, an 8% increase year-over-year, and a GAAP loss per share of ($0.67). The results were primarily driven by higher commercial airplane deliveries, while the company generated positive free cash flow for the quarter.
Key Highlights
- The company reported positive free cash flow of $631 million, a significant improvement from a loss of $200 million in the prior-year quarter.
- Total company backlog grew to a record $715 billion, which includes over 6,200 commercial airplanes valued at $597 billion.
- Commercial Airplanes deliveries increased 14% to 171 aircraft, while the Defense, Space & Security segment swung to an operating loss of $15 million due to a $280 million charge on the VC-25B program.
- The 737 program began transitioning production to a rate of 47 per month during the quarter.