Boeing (BA) 4024 revenue

Boeing CEO Kelly Ortberg said on Tuesday that the company focused on its core business and continued its recovery, including rising production after multiple safety and manufacturing crises for plane manufacturers reached six consecutive annual losses. He said there was.

Ortberg said the company’s maximum delivery of 737 is likely to reach “late 30s” this month from 17 in December.

“We’re a little ahead of where I was expecting,” he told CNBC’s “Scoke on the Street.” He said that cash flow could be positive later in the year after Boeing burned more than $14 billion in 2024, and the company was set to reach production of 38 largest aircraft per month. He said there was.

Boeing shares rose 1.5% on Tuesday.

Autoberg, a longtime aerospace executive who Boeing retired in the summer and hired, said the company is also focusing on modifying its culture.

The company is expected to sell units like the Jeppesen navigation business. The CEO confirmed that the CEO was the candidate during a revenue call Tuesday.

“There are some areas where you can streamline your organization. Otherwise, it might be better to concentrate your energy elsewhere. You’ll be acting on them over the next few months and years,” Autoberg said. I said this over the phone. “If I give you guidance, I think it’s going to prune your portfolio more, rather than cutting down the trees.”

Boeing lost $3.86 billion in the last three months of 2024, receiving approximately $3 billion in fees for its commercial aircraft units and defense and space operations spanning aircraft from Boeing 767 to KC-46 tankers, and in 747 A pair of long-standing pairs are set to serve as one plane in the new Air Force. Revenue fell 31% from the same period last year to $15.2 billion.

As expected, Boeing’s outcome was affected by nearly two months of mechanic strikes that extended work on most aircraft and extended delivery delays to customers. Boeing said it burned about $3.5 billion in the fourth quarter. The company expects similar cash usage in the first quarter.

The company last announced its profits in 2018. In addition to crashes and Covid, it faces many manufacturing flaws and cost overruns, and earlier last year, it faces an almost expressive hollow blowout of the nearly new Max 9 door panel. A jet liner climbed from Portland, Oregon.

The Federal Aviation Administration concluded Boeing’s production after the accident at 38 a month.

“We need to reach 38 and demonstrate stability at 38 with safety and quality standards,” Ortberg said.

“So far, things seem encouraging,” he said, adding that the company can increase production to about 42 a month.

Last week, Boeing released preliminary results showing that it lost more and lower revenue than analysts had expected.

The company’s annual loss totaled $11.83 billion, the largest since 2020, when it was working on the basis of its bestselling plane, the 737 Max, after two fatal crash drops and the Covid-19 pandemic.

“It’s been a challenging year, but we’re seeing signs that encourage signs of progress to work together to turn the company around,” Autoberg said in a staff memo.

Defense unit revenue fell 20% in the quarter to $5.4 billion, with a pre-tax fee of $1.7 billion.

“BDS quarterly fees are disappointing, but we have completed a deep dive into all of our challenging fixed price development programs,” Ortberg said in a memo. “We are now more aggressive and clear about the risks.”

Ortberg said in an interview with CNBC on Tuesday that Boeing is discussing how to deliver already delayed Air Force 1 aircraft with President Donald Trump’s adviser Elon Musk early to reduce the costs of the program . Musk’s company SpaceX is also a Boeing competitor.

Commercial aircraft units revenue fell 55% to $4.766 billion.

Here’s what the company reported compared to what Wall Street analysts looked at by LSEG:

Loss per share: $5.90 adjusted vs. $3.00 expected revenue: $15.24 billion vs. $162.1 billion

Boeing lost $3.86 billion in the fourth quarter, or $5.46 per share. Adjusting for strikes and fee impact, the company lost $5.90 per share.

After the strike ended in November, Boeing resumed production of its largest 737 aircraft in December, and earlier this month resumed test flights of 777 times the aircraft that have not yet been certified by the FAA. Boeing is also working to certified the Max 7 and Max 10 aircraft, the smallest and largest models of the single-akile Max family.

Airline CEOs have mostly support Ortberg, while major Boeing customers still record the impact of delivery delays.

American Airlines Over the weekend, we cut our schedule even further due to delays in delivery of the new Boeing 787 Dreamliner. It was also planned to be used to launch a more premium seating configuration to take advantage of consumer shifts to more expensive and spacious seats.

Services between Miami and Paris will be suspended in June and July, reducing frequencies from Dallas-Fort Worth International Airport and New York’s John F. Kennedy International in May, and from Dallas to Honolulu in June.

“We are committed to mitigating the impact of these Boeing delays while actively reaching out to affected customers, providing alternative travel arrangements and continuing to provide a comprehensive global network. We will continue to do so,” American said in a statement.

Meanwhile, Michael O’Leary, CEO of European budget airline Ryanair, said Monday that the company must cut passenger traffic targets for the year due to delays in “irritating” Boeing delivery.

– CNBC’s Phil Lebeau contributed to this report.

Adjusted: Boeing lost $30 million in the fourth quarter of the previous year. Previous versions have misrepresented the numbers.