A Boeing 747-8F operated by AirBridgeCargo takes off from Leipzig/Halle Airport.
Jan Voitas | Picture Alliance | Getty Images
Airlines and aircraft manufacturers have benefited from the sharp recovery in air travel, one of the worst-hit industries during the pandemic.
Nevertheless, Boeing generated $3.1 billion in cash flow in the fourth quarter, which exceeded analyst forecasts, and $2.3 billion for the year, the most since 2018, before the two fatal 737 MAX crashes that left the company A year long crisis had been created. ,
Boeing shares were down about 1% in premarket trading after reporting results.
Here’s How Boeing Fared fourth quarter That compared to analyst estimates compiled by Refinitiv:
- Adjusted loss per share: $1.75 versus expected earnings per share of 26 cents.
- Revenue: $19.98 billion vs. $20.38 billion expected.
Supply chain and labor shortages hurt its bottom line for the fourth quarter.
Boeing leaders are hesitant to ramp up production.
CEO Dave Calhoun said in a memo to employees, “We are proud of how we closed out 2022 and, despite the obstacles facing us, we are confident of our path.” “We have a strong pipeline of development programs, we are innovating for the future and we are increasing investments to prepare for our next generation of products.”
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