Boeing Company (the) · NYSE:BA
Boeing Company (the) — Q4 2023 Earnings Presentation
13 slides from Boeing Company (the)'s earnings presentation, Jan 31, 2024
Slide 1: Fourth-Quarter 2023 Performance Review
FOURTH-QUARTER 2023 PERFORMANCE REVIEW David Calhoun President and Chief Executive Officer Brian West Executive Vice President and Chief Financial Officer January 31, 2024 Copyright © 2024 Boeing. All rights reserved.
Slide 2: Forward-Looking Statements
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,” and similar expressi
Slide 3: Business Update
BUSINESS UPDATE Focused on safety and quality Copyright © 2024 Boeing. All rights reserved.
Slide 4: Fourth-Quarter Financial Results
FOURTH-QUARTER FINANCIAL RESULTS Q4 2023 Q4 2022 Revenue $22.0B $20.0B Core Operating Margin* 0.4% (3.2)% Core Loss Per Share* ($0.47) ($1.75) Free Cash Flow* $3.0B $3.1B * Non-GAAP measure. See slides 11-13 additional information on non-GAAP measures. Results reflect higher commercial volume and im
Slide 5: Commercial Airplanes Revenues and Operating Margins
COMMERCIAL AIRPLANES Revenues and Operating Margins $10.5 $9.3 Secured 611 net orders; backlog of $441B Revenue (billions) Delivered 157 airplanes Began 737-10 certification flight testing Resumed 777X program production Q4 2022 Q4 2023 Op margin: (6.5)% 0.4% Focused on safety, quality and o
Slide 6: Defense, Space & Security Revenues and Operating Margins
DEFENSE, SPACE & SECURITY Revenues and Operating Margins $6.7 Captured USAF award for 15 KC-46A Tankers $6.2 Began USAF developmental flight test program Revenue (billions) on the T-7A Red Hawk Canada selected the P-8A Poseidon as its multi-mission aircraft Q4 2022 Q4 2023 Orders valued at $
Slide 7: Global Services Revenues and Operating Margins
GLOBAL SERVICES Revenues and Operating Margins $4.8 $4.6 Opened a parts distribution center in India Revenue (billions) Received a follow-on contract option to provide sustainment for the C-17 Globemaster III Orders valued at $6B; backlog of $20B Q4 2022 Q4 2023 Op margin: 13.9% 17.4% Continue
Slide 8: Cash and Debt Balances
CASH AND DEBT BALANCES Cash and Marketable Securities Consolidated Debt S&P: BBB- Billions Billions Moody’s: Baa2 Fitch: BBB- $52.3 $52.3 $16.0 $13.4 Q3 2023 Q4 2023 Q3 2023 Q4 2023 Strong liquidity…focused on repaying debt Copyright © 2024 Boeing. All rights reserved.
Slide 9: Full Year Financial Results
FULL YEAR FINANCIAL RESULTS FY 2023 FY 2022 Revenue $77.8B $66.6B Core Operating Margin* (2.4)% (7.0)% Core Loss Per Share* ($5.81) ($11.06) Free Cash Flow* $4.4B $2.3B * Non-GAAP measure. See slides 11-13 additional information on non-GAAP measures. Results reflect higher commercial volume and impr
Slide 10: Copyright © 2024 Boeing. All rights reserved.
Copyright © 2024 Boeing. All rights reserved.
Slide 11: Non-GAAP Measure Disclosures
NON-GAAP MEASURE DISCLOSURES The tables provided below reconcile the non-GAAP financial measures core operating earnings/(loss), core operating margin, and core earnings/(loss) per share with the most directly comparable GAAP financial measures, earnings/(loss) from operations, operating margin, and
Slide 12: Non-GAAP Measure Disclosures
NON-GAAP MEASURE DISCLOSURES The tables provided below reconcile the non-GAAP financial measures core operating earnings/(loss), core operating margin, and core earnings/(loss) per share with the most directly comparable GAAP financial measures, earnings/(loss) from operations, operating margin, and
Slide 13: Non-GAAP Measure Disclosures
NON-GAAP MEASURE DISCLOSURES The table provided below reconciles the non-GAAP financial measure free cash flow with the most directly comparable GAAP financial measure operating cash flow. See page 5 of the company’s earnings press release dated January 31, 2024 for additional information on the use