Aviation

Boeing Reports Fourth-Quarter Results

CHICAGO, Jan. 29, 2020/PRNewswire/ —

Fourth Quarter 2019

Financial results continue to be significantly impacted by the 737 MAX grounding
Revenue of $17.9 billion, GAAP loss per share of ($1.79) and core (non-GAAP)* loss per share of ($2.33)

Full-Year 2019

Revenue of $76.6 billion, GAAP loss per share of ($1.12) and core (non-GAAP)* loss per share of ($3.47)
Operating cash flow of ($2.4) billion; cash and marketable securities of $10.0 billion
Total backlog of $463 billion, including over 5,400 commercial airplanes

The Boeing Company [NYSE: BA] reported fourth-quarter revenue of $17.9 billion, GAAP loss per share of ($1.79) and core loss per share (non-GAAP)* of ($2.33), primarily reflecting the impacts of the 737 MAX grounding (Table 1). Boeing recorded operating cash flow of ($2.2) billion and paid $1.2 billion of dividends.

21 airlines have flown the Boeing 737 MAX for a total of 58,500 flight hours.

“We recognize we have a lot of work to do,” said Boeing President and Chief Executive Officer David Calhoun. “We are focused on returning the 737 MAX to service safely and restoring the long-standing trust that the Boeing brand represents with the flying public. We are committed to transparency and excellence in everything we do. Safety will underwrite every decision, every action and every step we take as we move forward. Fortunately, the strength of our overall Boeing portfolio of businesses provides the financial liquidity to follow a thorough and disciplined recovery process.”

Boeing evaluating the production rate of B737 max to 31 per month by end of 2022.

Cash and investments in marketable securities totaled $10.0 billion, compared to $10.9 billion at the beginning of the quarter (Table 3). Debt was $27.3 billion, up from $24.7 billion at the beginning of the quarter primarily due to increased commercial paper borrowings.

Total company backlog at quarter-end was $463 billion and included net orders for the quarter of $13 billion.

Aviation

Boeing, Antonov to Collaborate on Defense Projects

– MOU represents Boeing’s commitment to work with Ukrainian industry

– Includes exploring opportunities for collaborating on in-country support of Unmanned Aerial Systems

A Memorandum of Understanding was signed today by Boeing and Antonov Company to investigate potential collaboration on defense-related projects.

“We’re happy to keep collaborating with the Antonov Company to help Ukraine’s economic development and expansion,” stated Ted Colbert, CEO and president of Boeing Defence, Space, & Security.

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“This agreement demonstrates our ongoing efforts to find more opportunities to work with Ukrainian industry, which was underscored by our signing of the Ukrainian Defence Industry Compact earlier this year.”

The areas of potential collaboration identified in the agreement consist of training, logistical support and overhaul services for tactical Unmanned Aerial Systems utilized by the Ukrainian Armed Forces, which includes the ScanEagle. In addition, the companies will also explore opportunities for Antonov to provide engineering support to Boeing.

The six largest cargo aircraft ever built in the aviation industry:Click here

“A strong, innovative, and efficient defense industry is key to sustainable economic development and national security, and we are extremely excited to collaborate with Boeing,” said Ievhen Gavrylov, CEO of Antonov Company.

This agreement brings a whole new level of opportunity to implement the latest and most effective solutions – in addition to the possibility of future projects with Boeing in the aerospace and defense industry.”