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Boeing lost more than $5 billion in 2022, but achieved positive cash flow for the first time since 2018

Shulou Source: shulou.com Published: 2023-11-24 14:14:47 10月04日 Update

CTOnews.com, January 25 (Xinhua) Boeing's loss widened in 2022, but Boeing achieved its first positive annual cash flow since 2018 due to an increase in commercial aircraft deliveries.

For all of 2022, Boeing's revenue was $66.608 billion (currently about 451.602 billion yuan), up 7% from a year earlier, with a net loss of $5.053 billion (currently about 34.259 billion yuan) and a net loss of $4.29 billion in 2021.

Boeing's revenue in the fourth quarter of 2022 was $20 billion, up from $14.79 billion in the same period in 2021, with a loss of $1.75 per share. In the fourth quarter of 2022, Boeing generated $3.1 billion in free cash flow. Boeing had forecast free cash flow of about $2.5 billion in the fourth quarter. For the whole of 2022, Boeing's free cash flow reached $2.3 billion (currently about 15.594 billion yuan), the first positive cash flow since 2018.

Earnings and earnings per share in the fourth quarter of 2022 fell short of Wall Street expectations. Boeing shares, which have risen more than 70% since September 2022, fell 2.6% in pre-market trading on Wednesday.

Dave Calhoun, chief executive of Boeing, said: "while challenges remain, we are in a good position and are on the right path to restore operational and financial strength."

Boeing has confirmed plans to deliver up to 450737 MAX narrow-body jets and 70 to 80 Boeing 787Dreamliners by 2023. The company reiterated that it expects to generate between $3 billion and $5 billion in free cash flow in 2023.