Boeing Company (the) · NYSE:BA
Boeing Company (the) — The Boeing Company — Q3 2021 Earnings Presentation
13 slides from Boeing Company (the)'s earnings presentation, Oct 27, 2021
Slide 1: Third-Quarter 2021 Performance Review
Third-Quarter 2021 PERFORMANCE REVIEW David Calhoun President and Chief Executive Officer Brian West Executive Vice President and Chief Financial Officer October 27, 2021 Copyright © 2021 Boeing. All rights reserved.
Slide 2: Business Update
BUSINESS UPDATE BCA BDS BGS Focused on meeting our customer commitments with the highest safety and quality standards 2 Copyright © 2021 Boeing. All rights reserved.
Slide 3: Business Environment
BUSINESS ENVIRONMENT • Stable global demand for our defense & space 10 YR MARKET SERVED products and services 2021 Boeing Market Outlook • Commercial recovery broadening; regional dynamics Defense continue to evolve $3.2T commercial market • Near-term remains uneven, driven by case rates & travel re
Slide 4: Third-Quarter Revenue and Earnings
THIRD-QUARTER REVENUE AND EARNINGS Revenue (Billions) Core CoreEarnings Loss perper Share Share* * $18 $0.00 $15.3 $14.1 $12 ($0.60) ($0.60) $6 ($1.20) ($1.39) $0 ($1.80) 2020 Q3 2021 Q3 2020 Q3 2021 Q3 * Non-GAAP measure. Additional information is provided in the company’s earnings press release da
Slide 5: Commercial Airplanes
COMMERCIAL AIRPLANES • Continued momentum on safely returning the 737 to service Revenues & Operating Margins • 787 deliveries remain impacted, ongoing engagement with FAA ⎻ Producing at 2/mo until deliveries resume, returning to 5/mo over time $5 $4.5 $3.6 Revenue (billions) ⎻ Recorded $183M of abn
Slide 6: Defense, Space & Security
DEFENSE, SPACE & SECURITY • Captured new and follow-on business Revenues & Operating Margins ⎻ Award for 5 P-8A Poseidon aircraft for Germany $9 30% ⎻ Joint Direct Attack Munition contract with U.S. Air Force $6.8 $6.6 Revenue (billions) $6 20% ⎻ Award for 4 CH-47F Block II Chinook helicopters to th
Slide 7: Global Services
GLOBAL SERVICES • Commercial services recovering from COVID-19 impact Revenues & Operating Margins Revenue • Outlook for government services remains stable Comm’l Gov’t • Announced partnership to expand capacity for 767 converted $6 25% Revenue (billions) freighters $3.7 $4.2 Margin $3 13% 7.3% 15.3
Slide 8: Cash Flow
CASH FLOW Operating Cash Flow (Billions) • Higher commercial deliveries $0 • Higher order receipts ($0.3) • Income tax refund ($2) • Lower expenditures on lower wide- body production rates ($4) • Disciplined cash management and ($4.8) business transformation efforts ($6) 2020 Q3 2021 Q3 • Timing of
Slide 9: 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 $62.1 $60.9 $30 $60 $50 $21.3 $20.0 $20 $40 $8.2 $9.8 $30 $10 $20 $13.1 $10.2 $10 $1.5 $1.5 $0 $0 2021 Q2 2021 Q3 2021 Q2 2021 Q3 Sufficient liquidity; focused on strength
Slide 10: Copyright © 2021 Boeing. All rights reserved.
Copyright © 2021 Boeing. All rights reserved.
Slide 11: 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 12: 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 13: 737 MAX - Additional Detail
737 MAX - ADDITIONAL DETAIL • Commercial Airplanes produced at abnormally low production rates in 2020 and expects to continue to do so through 2021. As a result, it expects to incur approximately $4.6 billion of abnormal production costs on a cumulative basis, which are being expensed as incurred •