Boeing Company (the) · NYSE:BA

Boeing Company (the) — 2022 Investor Conference

12 slides from Boeing Company (the)'s conference presentation, November 2022

  1. Slide 1: 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

  2. Slide 2: Copyright © 2022 Boeing. All rights reserved.

    Copyright © 2022 Boeing. All rights reserved.

  3. Slide 3: 2022 free cash flow outlook by period

    1st Half ($3.7B) 3rd Quarter $2.9B 4th Quarter ~$2.5B Full Year $1.5B - $2.0B Forward momentum over the course of the year Copyright © 2022 Boeing. All rights reserved. *Non-GAAP measure; refer to Slide 11

  4. Slide 4: 2023 Segment Operating Cash and Free Cash Flow

    Segment Operating Cash  BDS ($1.0B) - ($0.5B)  BGS $2.5B - $3.0B $4.5B - $6.5B ($1.5B)  BCA $2.5B - $3.5B  Other $0.5B - $0.5B $3B - $5B Key Assumptions  737 Deliveries 400 - 450  787 Deliveries 70 - 80 Operating CapEx Free Cash Cash Flow BCA delivery volume and continued strong BGS performanc

  5. Slide 5: Improving Revenue & Operating Margins, Continued Investment

    Improving Revenue & Operating Margins Continued Investment Boeing ~$100B Revenue | ~10% Operating Margin R&D ~$3.5B BCA ~800 deliveries | Low-double digits CapEx ~$2.0B BGS Mid-single digit growth | Mid-teens BDS Low-single digit growth | High-single digits Copyright © 2022 Boeing. All rights reserv

  6. Slide 6: 2025/2026 Segment Operating Cash and Free Cash Flow

    Segment Operating Cash  BCA ~$9B ~$12B ($2B)  BGS ~$3B ~$10B  BDS ~$2B  Other ~($2B) Key Assumptions  737 Production Rate ~50/mo  787 Production Rate ~10/mo  777/777X Production Rate ~4/mo Operating CapEx Free Cash Cash Flow BCA production ramp, BDS program transitions, BGS profitable growth

  7. Slide 7: Path to historical levels of cash flow generation

    $2.7B $0.3B ($3B) + Volume $6B ~$10B + Program transitions - Investments + Productivity - Tax payments + Interest expense $3B - $5B + Production ramp + Productivity - 777X production ramp 2023 BCA BDS BGS CapEx 2025 / 2026 & Other Path to historical levels of cash flow generation Copyright © 2022 Bo

  8. Slide 8: Liquidity: significantly de-levering through cash flow generation

    Liquidity (Billions) Sufficient liquidity with cash on hand & revolver Continue to invest in the business Cash generation to address debt maturities, ~$17 excess cash for accelerated debt paydown Investment grade rating remains a priority YE22 Free Cash Debt YE25 Targeting historical leverage Cash F

  9. Slide 9: Big, diverse backlog enables growth

    International Commercial Growth 30% 20% 30% Backlog Backlog Backlog $307B $55B $19B U.S. 70% Defense Replacement 80% 70% Big, diverse backlog enables growth Copyright © 2022 Boeing. All rights reserved. as of 3Q22

  10. Slide 10: Meet customer commitments, Leverage Lean, Invest in future capabilities

    Meet customer commitments Leverage Lean Invest in future capabilities Supply chain health Eliminate rework Restore balance sheet Program execution Expand digital capabilities Return cash to shareholders Copyright © 2022 Boeing. All rights reserved.

  11. Slide 11: Returning to historical levels of cash flow generation

    Free cash flow is GAAP operating cash flow reduced by capital expenditures for property, plant and equipment. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders, debt repayment, and acquisitions after making the capital investme

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

    Copyright © 2022 Boeing. All rights reserved.

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