Boeing Company (the) · NYSE:BA
Boeing Company (the) — The Boeing Company — Q2 2022 Earnings Presentation
12 slides from Boeing Company (the)'s earnings presentation, Jul 27, 2022
Slide 1: Second-Quarter 2022 Performance Review
Second-Quarter 2022 PERFORMANCE REVIEW David Calhoun President and Chief Executive Officer Brian West Executive Vice President and Chief Financial Officer July 27, 2022 Copyright © 2022 Boeing. All rights reserved.
Slide 2: Business Update
BUSINESS UPDATE Courtesy of NASA BCA BDS BGS Building momentum; remain focused on safety, quality and operational stability 2 Copyright © 2022 Boeing. All rights reserved.
Slide 3: Business Environment
BUSINESS ENVIRONMENT • Continue to expect passenger traffic to return to 2019 Passenger Traffic Global GDP and Traffic Recovery RPKs in % of May ‘19 GDP and RPKs in % of 2019 levels in 2023 to 2024; return to long-term growth trend a few years thereafter North America GDP RPK 120% Middle East 100% L
Slide 4: Second-Quarter Financial Results
SECOND-QUARTER FINANCIAL RESULTS Revenue (Billions) Core Loss per Share* Operating Cash Flow (Billions) $18 $17.0 $16.7 $1.0 $1.00 $0.40 $0.5 $0.50 $12 $0.1 $0.0 $0.00 $6 ($0.5) ($0.50) ($0.5) ($0.37) $0 ($1.0) Q2 2021 Q2 2022 ($1.00) Q2 2021 Q2 2022 Q2 2021 Q2 2022 * Non-GAAP measures. Definitions,
Slide 5: Commercial Airplanes
COMMERCIAL AIRPLANES Revenues & Operating Margins • Working with FAA to finalize actions to resume 787 deliveries $8 $6.0 $6.2 Revenue (billions) • Increased 737 production rate to 31 per month $6 $4 $2 • Captured orders for 169 737 MAX airplanes and 13 freighters $0 2021 Q2 2022 Q2 Operating margin
Slide 6: Defense, Space & Security
DEFENSE, SPACE & SECURITY • CST-100 Starliner successfully completed uncrewed OFT-2 Revenues & Operating Margins $8 $6.9 $6.2 Revenue (billions) • SLS completed wet dress rehearsal $6 $4 $2 • Fixed-price development programs impacted results $0 2021 Q2 2022 Q2 Operating margin: 13.9% 1.1% • German g
Slide 7: Global Services
GLOBAL SERVICES Revenues & Operating Margins • Commercial services revenue nearly at pre-pandemic levels Revenue Gov’t Comm’l • Outlook for government services remains stable $6 $4.1 $4.3 Revenue (billions) • Delivered first A-10 wing set to U.S. Air Force $3 • Captured new and follow-on business $0
Slide 8: 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 $15 $70 $12.3 $60 $56.2 $11.4 $55.7 $50 $10 $7.4 $40 $10.0 $30 $5 $20 $4.9 $10 $1.4 $1.5 $1.5 $0 $0 2022 Q1 2022 Q2 2022 Q1 2022 Q2 Sufficient liquidity and still expect posit
Slide 9: Copyright © 2022 Boeing. All rights reserved.
Copyright © 2022 Boeing. All rights reserved.
Slide 10: 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
Slide 11: 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
Slide 12: 737 MAX - Additional Detail
737 MAX - ADDITIONAL DETAIL • Commercial Airplanes increased the 737 production rate to 31 per month during the second quarter of 2022. • Commercial Airplanes expensed $188 million during the three months ended March 31, 2022 • The following table summarizes changes in the 737 MAX customer concessio