Boeing’s first-quarter revenue rose to $22.2 billion from $19.5 billion a year earlier, a gain of 14%, as commercial deliveries increased to 143 aircraft from 130.
The company’s GAAP loss per share narrowed to 11 cents from 16 cents, while core loss per share improved to 20 cents from 49 cents.
Operating cash flow improved sharply to a loss of $179 million from a loss of $1.6 billion in the prior-year quarter. Free cash flow was a loss of $1.45 billion, compared with a loss of $2.29 billion a year earlier.
Boeing’s total backlog climbed to a record $695 billion from the prior quarter’s level, including more than 6,100 commercial airplanes. Commercial airplane backlog alone reached a record $576 billion.
By segment, Commercial Airplanes revenue increased 13% to $9.2 billion from $8.1 billion, while operating loss widened slightly to $563 million from $537 million. Deliveries in the segment rose 10% to 143 aircraft, and the unit booked 140 net orders in the quarter.
Defense, Space & Security revenue increased 21% to $7.6 billion from $6.3 billion, and operating earnings rose 50% to $233 million from $155 million.
Global Services revenue increased 6% to $5.4 billion from $5.1 billion, with operating earnings up 3% to $971 million from $943 million.
Cash and investments in marketable securities fell to $20.9 billion at quarter-end from $29.4 billion at the start of the quarter, while consolidated debt declined to $47.2 billion from $54.1 billion. Today the company's shares have moved -2.63% to a price of $194.36. For more information, read the company's full 8-K submission here.
