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Boeing Company (the) — The Boeing Company — Q2 2019 Earnings Presentation

13 slides from Boeing Company (the)'s earnings presentation, Jul 24, 2019

  1. Slide 1: Second-Quarter 2019 Performance Review

    Second-Quarter 2019 Performance Review Dennis Muilenburg Chairman, President and Chief Executive Officer Greg Smith Chief Financial Officer Executive Vice President of Enterprise Performance & Strategy July 24, 2019 Copyright © 2019 Boeing. All rights reserved.

  2. Slide 2: Second-Quarter Summary

    Second-Quarter Summary Boeing | Investor Relations  Continue to engage global regulators and customers on 737 MAX safe return to service  Booked $4.9B after-tax charge and increased costs of $1.7B related to 737 MAX 2Q19 BCA Backlog North America  Recognized revenue of $15.8B and core loss per sh

  3. Slide 3: Business Environment

    Business Environment Boeing | Investor Relations Strong and Growing Markets 10-Year Served Market  Commercial aviation remains long-term growth industry – 20-year Commercial Market Outlook of 44,040 airplanes Defense Commercial & Space Airplanes Systems  Healthy airline profitability, resilient pa

  4. Slide 4: 737 MAX

    737 MAX Boeing | Investor Relations  Second quarter results – Recorded lower BCA revenue and operating earnings due to fewer 737 deliveries – Booked $4.9B after-tax charge related to estimated potential concessions and other considerations – Included $1.7B increased costs to produce aircraft in the

  5. Slide 5: Second-Quarter Revenue and Earnings

    Second-Quarter Revenue and Earnings Boeing | Investor Relations Revenue (Billions) Core Earnings/(Loss) per Share* $30 $4.00 $3.33 Includes $5.6B Includes $8.74 737 MAX charge** 737 MAX charge** $24.3 $2.00 $24 $0.00 $18 $15.8 ($2.00) $12 ($4.00) $6 ($6.00) ($5.82) $0 ($8.00) 2018 Q2 2019 Q2 2018 Q2

  6. Slide 6: Commercial Airplanes

    Commercial Airplanes Boeing | Investor Relations  Focused on 737 MAX safe return to service Revenues & Operating Margins Includes $5.6B  Financial results significantly impacted by 737 MAX grounding $14.0 737 MAX charge** Revenue (billions) $10 10% $4.7  Delivered 90 airplanes, including 42 787s

  7. Slide 7: Defense, Space & Security

    Defense, Space & Security Boeing | Investor Relations  Captured new and follow-on business; well positioned for the future Revenues & Operating Margins $6.1 $6.6 20% – Joint Direct Attack Munition contract for the U.S. Air Force Revenue (billions) $6 15% Margin $4 14.7% 10% – Wideband Global Satell

  8. Slide 8: Global Services

    Global Services Boeing | Investor Relations Revenues & Operating Margins  Generated strong 11% year-over-year revenue growth $6 30% $4.5 Revenue (billions) $4.1 $4 20%  Captured new and follow-on business Margin $2 14.7% 15.1% 10% – Signed commitment with ASL and GECAS for up to 45 737-800 freight

  9. Slide 9: Cash Flow

    Cash Flow Boeing | Investor Relations Operating Cash Flow (Billions) $5 $4.7 $4  Lower 737 deliveries and production rate $3  Timing of receipts and expenditures $2 $1 $0 ($1) ($0.6) 2018 Q2 2019 Q2 Cash generation significantly impacted by 737 MAX 9 Copyright © 2019 Boeing. All rights reserved.

  10. Slide 10: Cash and Debt Balances

    Cash and Debt Balances Boeing | Investor Relations Billions Cash Billions S&P: A Boeing debt Moody’s: A2 Marketable Securities Fitch: A BCC debt $20 $20 $17.3 $16 $16 $12.6 $12 $12 $9.6 $8 $7.7 $8 $9.2 $4 $6.8 $4 $2.1 $1.9 $0 $0.9 $0.4 $0 2019 Q1 2019 Q2 2019 Q1 2019 Q2 Strong liquidity with managea

  11. Slide 11: Copyright © 2019 Boeing. All rights reserved.

    Copyright © 2019 Boeing. All rights reserved.

  12. Slide 12: Caution Concerning Forward-Looking Statements

    Caution Concerning Forward-Looking Statements Boeing | Investor Relations 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,”

  13. Slide 13: Non-GAAP Measure Disclosure

    Non-GAAP Measure Disclosure Boeing | Investor Relations The Boeing Company and Subsidiaries Reconciliation of Non-GAAP Measure (Unaudited) The table provided below reconciles the non-GAAP financial measure core (loss)/earnings per share with the most directly comparable GAAP financial measure dilute

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