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Boeing Company (the) — The Boeing Company — Q4 2021 Earnings Presentation

16 slides from Boeing Company (the)'s earnings presentation, Jan 26, 2022

  1. Slide 1: Fourth-Quarter 2021 Performance Review

    Fourth-Quarter 2021 PERFORMANCE REVIEW David Calhoun President and Chief Executive Officer Brian West Executive Vice President and Chief Financial Officer January 26, 2022 Copyright © 2022 Boeing. All rights reserved.

  2. Slide 2: Business Update

    BUSINESS UPDATE BCA BDS BGS 2021 was a rebuilding year 2 Copyright © 2022 Boeing. All rights reserved.

  3. Slide 3: 2022 Priorities

    2022 PRIORITIES Well-positioned for 2022 and beyond; remain focused on safety, quality and operational stability 3 Copyright © 2022 Boeing. All rights reserved.

  4. Slide 4: Business Environment

    BUSINESS ENVIRONMENT Passenger Traffic Air Cargo Traffic November 2021 RPKs in % of November 2019 FTKs, % growth over same month in 2019 • Commercial recovery broadening; regional dynamics 15% continue to evolve driven by COVID-19 North America 10% Latin America 5% ⎻ 2021 cargo traffic ~7% above 201

  5. Slide 5: Fourth-Quarter Financial Results

    FOURTH-QUARTER FINANCIAL RESULTS Revenue (Billions) Core Loss per Share* Operating Cash Flow (Billions) $18 $1 $0.7 $15.3 $14.8 ($2) $12 ($1) ($6) ($7.69) ($10) $6 ($3) ($14) ($4.0) ($15.25) $0 ($5) Q4 2020 Q4 2021 ($18) Q4 2020 Q4 2021 Q4 2020 Q4 2021 * Non-GAAP measures. Definitions, reconciliatio

  6. Slide 6: Commercial Airplanes

    COMMERCIAL AIRPLANES • Captured orders for 164 737 MAX and 24 freighter airplanes Revenues & Operating Margins • Backlog of over 4,200 airplanes valued at $297B $6 $4.7 $4.8 Revenue (billions) • Delivered 99 airplanes, including 78 737 MAX $4 $2 • Engaging with FAA on actions required to resume 787

  7. Slide 7: Defense, Space & Security

    DEFENSE, SPACE & SECURITY • Results impacted by charge recorded on KC-46A Tanker program; expanded operational refueling capability Revenues & Operating Margins • Captured new and follow-on business $9 $6.8 Revenue (billions) $5.9 ⎻ Award for 6 MH-47G Block II Chinook rotorcraft for U.S. Army Specia

  8. Slide 8: Global Services

    GLOBAL SERVICES • Commercial services recovering from COVID-19 impact Revenues & Operating Margins Revenue • Outlook for government services remains stable Gov’t Comm’l $6 • Delivered 50th 767-300 converted freighter Revenue (billions) $4.3 $3.7 $3 • Captured new and follow-on business $0 ⎻ Secured

  9. Slide 9: Full Year Financial Results

    FULL YEAR FINANCIAL RESULTS Revenue (Billions) Core Loss per Share* Operating Cash Flow (Billions) $75 $0 $0 $62.3 $58.2 $60 ($5) ($4) ($3.4) $45 ($10) ($8) ($9.44) ($15) $30 ($12) ($20) $15 ($16) ($25) ($23.25) ($18.4) $0 ($20) 2020 2021 ($30) 2020 2021 2020 2021 * Non-GAAP measures. Definitions, r

  10. Slide 10: Cash and Debt Balances

    CASH AND DEBT BALANCES Cash S&P: BBB- Boeing debt Billions Marketable Securities Billions Moody’s: Baa2 Fitch: BBB- BCC debt $70 $60.9 $20.0 $60 $56.6 $20 $50 $16.2 $9.8 $40 $8.0 $30 $10 $20 $10.2 $8.2 $10 $1.5 $1.5 $0 $0 2021 Q3 2021 Q4 2021 Q3 2021 Q4 Sufficient liquidity; focused on strengthening

  11. Slide 11: 2022 Key Drivers

    2022 KEY DRIVERS Revenue Operating Cash Flow Expected to improve vs. 2021 Expected to improve vs. 2021 BCA + + Commercial deliveries + Higher 787 deliveries + Higher 737 deliveries + Improved operational stability - 787 customer impact - Advance payment timing and burn-down BDS ~ Stable - 787 custom

  12. Slide 12: Copyright © 2022 Boeing. All rights reserved.

    Copyright © 2022 Boeing. All rights reserved.

  13. Slide 13: Caution Concerning Forward-Looking Statements

    CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” a

  14. Slide 14: Non-GAAP Measure Disclosure

    NON-GAAP MEASURE DISCLOSURE The Boeing Company and Subsidiaries Reconciliation of Non-GAAP Measures (Unaudited) The table provided below reconciles the non-GAAP financial measure core loss per share with the most directly comparable GAAP financial measure diluted loss per share. See page 6 of the co

  15. Slide 15: Non-GAAP Measure Disclosure

    NON-GAAP MEASURE DISCLOSURE The Boeing Company and Subsidiaries Reconciliation of Non-GAAP Measures (Unaudited) The table provided below reconciles the non-GAAP financial measure core loss per share with the most directly comparable GAAP financial measure diluted loss per share. See page 6 of the co

  16. Slide 16: 737 MAX - Additional Detail

    737 MAX - ADDITIONAL DETAIL • Commercial Airplanes produced at abnormally low production rates in 2020 and 2021 and expensed abnormal production costs of $2,567 million and $1,887 million. Commercial Airplanes does not expect the remaining abnormal costs related to the 737 MAX to be significant and

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