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Boeing updated its 2022 financial reports and its long-term goals.

Boeing updated its 2022 financial reports and its long-term goals.

Boeing is presently gradually stabilizing after encountering headwinds from the business. produced $3.1 billion in free cash flow in addition to $3.5 billion in operating cash flow. and revised the total orders and deliveries made between January and December 2022.

The 737 program is stabilizing the production rate at 31 per month with plans to ramp production to approximately 50 per month in the 2025/2026 timeframe. Additionally, the 787 program continues at a low production rate with plans to ramp production to five per month in late 2023 and to 10 per month in the 2025/2026 timeframe.

During the quarter, the company secured net orders for 376 aircraft, including an order from United Airlines for 100 737 MAX and 100 787 airplanes. Commercial Airplanes delivered 152 airplanes during the quarter and the backlog included over 4,500 airplanes valued at $330 billion.

Defense, Space & Security’s fourth-quarter revenue was $6.2 billion. Fourth-quarter operating margin of 1.8 percent reflects the continued operational impact of labor instability and supply chain disruption.

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Defense, Space & Security delivered 45 aircraft and three satellites, including the first P-8A Poseidon to New Zealand. Also in the quarter, the Boeing-built Space Launch System core stage powered the first Artemis I mission to the moon and the T-7A program completed engine testing.

During the quarter, Defense, Space & Security captured awards from Japan for two KC-46A Tankers and from the Egyptian Air Force for 12 CH-47F Chinook helicopters. The backlog at Defense, Space & Security was $54 billion, of which 28 percent represents orders from customers outside the U.S.

Global Services’ fourth-quarter revenue of $4.6 billion and operating margin of 13.9 percent reflect higher commercial volume, partially offset by lower government volume.

During the quarter, Global Services finalized the U.S. Air Force F-15 depot support order and opened the Germany Distribution Center to serve 6,000+ customers with chemicals and specialty materials.

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At quarter-end, Boeing Capital’s net portfolio balance was $1.5 billion. The increase in loss from other unallocated items and eliminations was driven by the timing of allocations, share-based compensation and deferred compensation expense. The change in other income was primarily due to increased interest rates driving increased investment income. The fourth quarter effective tax rate primarily reflects tax expense driven by an increase in the valuation allowance.

Fourth Quarter 2022

  • Generated $3.5 billion of operating cash flow and $3.1 billion of free cash flow (non-GAAP); cash and marketable securities of $17.2 billion
  • Certification efforts continue on 737-7 and 737-10
  • Delivered 152 commercial airplanes and recorded 376 net orders

The full Year 2022

  • Generated $3.5 billion of operating cash flow and $2.3 billion of free cash flow (non-GAAP)
  • Delivered 480 commercial airplanes and recorded 808 net orders
  • Total company backlog grew to $404 billion; including over 4,500 commercial airplanes

Outlook for 2023

  • Reaffirming guidance: $4.5$6.5 billion of operating cash flow and $3.0$5.0 billion free cash flow (non-GAAP)
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Aerospace

Boeing 777-9 Begins Certification Flight Testing with FAA Onboard

Boeing 777-9 Begins Certification Flight Testing with FAA Onboard

The 777-9 has commenced certification flight testing at Boeing Field in Seattle. This is a crucial step under the supervision of our regulator to certify the airplane and deliver it to customers worldwide.

Amidst Boeing’s current challenges, the B777X stands out as a project that could revitalize the brand. It is highly anticipated, and Boeing is keen to clear FAA certifications to release it as soon as possible.

Boeing 777-8F vs Airbus A350F: Comparing two Premium aircraft : Click here

The aircraft is two years behind its initial commitment date. During this time, the company has rigorously tested it under various conditions to ensure its readiness for commercial service.

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Boeing has announced that the 777X will be used for both passenger and freighter services, depending on customer requirements.

Boeing’s 777X program has achieved a major milestone with the Federal Aviation Administration (FAA) granting approval to begin certification flight tests, marking a significant step towards the aircraft’s entry into commercial service.

Mega Comparison of Boeing 777x vs A350-1000 Aircraft : Click here

The European Union granted approval for this merger in February, and Korean Air anticipates U.S. regulatory approval by the end of October.

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Following Airbus’ breakthrough with Korean Air, Reuters reported in April that Korean Air was considering a new Boeing order focused on the 777X, an advanced version of the 777 mini-jumbo.

Boeing 777-9 First certification

The first certification flight test of the 777-9 took place on Friday evening, with FAA personnel onboard alongside Boeing’s pilots and flight test team.

According to The Seattle Times, the aircraft departed from Boeing Field shortly after 6 p.m. and landed nearly two hours later after flying along the Washington and Oregon coast.

The 777X, an upgraded version of the successful 777 twinjet, features new engines and carbon composite wings with folding wingtips to accommodate standard airport gates.

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The first variant, the 777-9X, is designed to carry 426 passengers in a two-class configuration for long-haul international flights.

Comparison of two legendary aircraft Boeing 777x vs Boeing 747 aircraft : Click here

Boeing B777x total orders

Boeing has secured 481 orders for the aircraft, with Emirates being the largest customer, having ordered over 200 units. The planemaker has already built and stored 22 777X jets, with an additional six in various stages of assembly in Everett, Washington.

Boeing is close to finalizing a significant deal to sell approximately two dozen 777X jets to Korean Air, with an estimated value ranging from $4 billion to $6 billion, as reported by Reuters.

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Industry sources suggest that the agreement could be concluded as early as the Farnborough Airshow in July. Korean Air, South Korea’s largest airline, has been in discussions about returning to Boeing for its long-haul aircraft needs.

The Boeing 777X vs A350 is one of the most popular comparisons among aircraft as of now. The Airbus A350 has been operating for more than eight years, and its promising performance helps airlines in terms of efficiency and customer satisfaction, particularly in noise and vibrations.

The next generation Boeing 777X can fulfill the same requirements, with 777x first delivery given to Emirates Airlines, the launch customer for this aircraft. It remains to be seen how the Boeing 777X vs Airbus A350 will compete against each other in the future.

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