Slide 1: Fourth-Quarter 2016 Performance Review
Fourth-Quarter 2016 Performance Review Dennis Muilenburg Chairman, President and Chief Executive Officer Greg Smith Chief Financial Officer Executive Vice President, Corporate Development & Strategy January 25, 2017 Copyright © 2017 Boeing. All rights reserved.
Slide 2: 2016 Summary
2016 Summary Boeing | Investor Relations 4Q16 BCA Backlog Generated strong revenue, solid earnings and record cash flow North Other America Returned nearly $10 billion to shareholders; declared quarterly 5,715 Airplanes in dividend increase of 30% per share backlog Europe Captured 668 commerci
Slide 3: Business Environment
Business Environment Boeing | Investor Relations 2016 Current Market Outlook Commercial aviation remains long-term growth industry Regional Large jets widebody Single aisle Medium widebody Healthy passenger traffic; modestly improving air cargo market Small widebody 39,620 New airplanes Strong
Slide 4: Full Year Financial Results
Full Year Financial Results Boeing | Investor Relations * Operating Cash Flow Revenue Core Earnings per Share (Billions) (Billions) $10.5 $100 $96.1 $10.00 $10 $94.6 $9.4 $7.72 $75 $7.50 $7.24 $8 $50 $5.00 $5 $25 $2.50 $3 $0 $0.00 $0 2015 2016 2015 2016 2015 2016 * Non-GAAP measures. Definitions, re
Slide 5: Fourth-Quarter Revenue and Earnings
Fourth-Quarter Revenue and Earnings Boeing | Investor Relations Revenue (Billions) Core Earnings per Share * $30 $4.00 $3.50 $25 $23.6 $23.3 $3.00 $20 $2.47 $2.50 $15 $2.00 $1.60 $1.50 $10 $1.00 $5 $0.50 $0 $0.00 2015 Q4 2016 Q4 2015 Q4 2016 Q4 * Non-GAAP measures. Definitions, reconciliations, and
Slide 6: Commercial Airplanes Revenues & Operating Margins
Commercial Airplanes Boeing | Investor Relations Revenues & Operating Margins Delivered 185 airplanes in Q4; 748 in 2016 $20 18% Revenue (billions) $16.1 $16.2 15% Orders valued at $23B; robust backlog of $416B $15 Margin 12% $10 9% – Won 288 net orders in Q4; 668 in 2016 $5 9.1% 6% 3% $0 3.5% 0
Slide 7: Defense, Space & Security
Defense, Space & Security Boeing | Investor Relations New international business Revenues & Operating Margins – Derivative Aircraft $9 18% – India: P-8 Option exercised (4) $7.8 Revenue (billions) $6.9 15% – Norway: P-8 Congressional Notification (5) Margin $6 12% 12.4% 11.8% 9% – Helicopters $3 6
Slide 8: Cash Flow
Cash Flow Boeing | Investor Relations Operating Cash Flow (Billions) $10.5 $10 $9.4 Solid operating performance $8 Continuing to drive disciplined cash management $5 $3.1 Repurchased 55 million shares in $2.8 2016 for $7 billion and paid $2.8 $3 billion in dividends $0 2015 Q4 2016 Q4 2015 201
Slide 9: Cash and Debt Balances
Cash and Debt Balances Boeing | Investor Relations S&P: A Boeing debt Cash Moody’s: A2 Marketable Securities Fitch: A BCC debt Billions Billions $12 $12 $9.7 $10.0 $9 $9 $8.1 $7.1 $6 8.8 $6 9.0 $3 $3 $2.9 $2.4 0.7 1.2 $0 $0 2016 Q3 2016 Q4 2016 Q3 2016 Q4 Strong liquidity with manageable debt levels
Slide 10: Financial Guidance
Financial Guidance Boeing | Investor Relations 2017 Revenue $90.5 – 92.5B Core EPS * $9.10 – 9.30 Operating Cash Flow ~$10.75B Capital Expenditures ~$2.3B * Non-GAAP measures. Definitions, reconciliations, and further disclosures regarding this non-GAAP measure are provided in the company’s earnings
Slide 11: 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,”
Slide 12: Copyright © 2017 Boeing. All rights reserved.
Copyright © 2017 Boeing. All rights reserved.
Slide 13: Non-GAAP Measure Disclosure
Non-GAAP Measure Disclosure Boeing | Investor Relations The Boeing Company and Subsidiaries Reconciliation of Non-GAAP Measures (Unaudited) The tables provided below reconcile the non-GAAP financial measures core earnings per share, Commercial Airplanes operating margin excluding the KC-46 Tanker ch