The numbers aren’t as good as expected for Boeing. In fact, the American manufacturer on Wednesday unveiled results that were below forecasts for the second quarter. Revenue declined 2% from the year-ago period to $16.68 billion and operating income fell 24% to $774 million. Nearly three-quarters of net income also soared, falling to $160 million.
If the group remains slightly profitable, its decline is serious. According to its alternative performance indicators (“ Non-GAAP Measures “)he suffered a loss of 37 cents per share, twice as much as analysts had expected.
Boeing is still suffering from long-haul 787 delivery delays since procedural flaws were discovered in 2020. The company anticipates additional costs of $2 billion, of which $283 million was booked in the quarter. The last deliveries of the planes date back to 2021 as the time to fix production issues and overhaul the planes in the holding pattern is more important than expected. ” The company continues to work with the FAA to complete the actions that will allow deliveries to resume and to prepare the aircraft.claims Boeing.
For its part, sales of the Defense, Space and Security division declined by 10%. The group recorded two charges, one of $147 million related to the MQ-25, the US Navy’s future tanker drone, and the other of $93 million related to the Starliner capsule test flight in May many adventures.
Boeing does not want to skip the stages with the 737 MAX
Despite these difficulties, the group wants to remain positive and claims to be able to generate positive free cash flow overall in 2022. Commercial aviation revenue was also up 3% during the quarter, helped by sound shipments best sellerthe 737 MAX.
Boeing continues to ramp up the program and is now producing 31 examples per month. ” Even with high demand, we will not attempt to rush production rates or push our system too fast ‘ underscored the manufacturer’s CEO, Dave Calhoun, in a letter to employees. While Boeing, like many other companies before the ” Supply Chain Constraints ” and to ” inflation », he prefers to prioritize stability and predictability “. And above all, it must give priority to sales 737 MAX stored in its parking lots, around 300 copies, a consequence of the grounding that hit the planes between 2019 and late 2020.
Boeing also just received nearly 200 orders at the Farnborough Airshow, including 787s. Notably, Boeing has signed a deal with Irish aircraft rental company AerCap, which will allow the airshow to purchase five widebody 787 family jetliners at a total list price of US$1.5 Dollar made billion. AerCap, which leases its aircraft to more than 300 companies including American, China Southern, Azul Brazilian and Air France, is the world’s largest customer for the 787 Dreamliner.
The group now has 125 aircraft of this type on its account or on order. He is confident that the aircraft manufacturer can return to a normal delivery rhythm for its Dreamliner. ” We think we’re close “, he said. Azerbaijan Airlines has committed to purchase four 787-8 jumbo jets (approximately $1 billion at list price).