Boeing recorded third-quarter revenue of US$24.2 billion, up 4% year on year, as higher volumes in its Defence, Space & Security and Global Services businesses offset a less favourable commercial-aircraft delivery mix. The 737-7 and 737-10 received amended type certification from the FAA, while the company was selected by the US Navy to develop and build the F/A-XX next-generation fighter aircraft.
Boeing reported a GAAP net loss of US$116 million, or US$0.26 per diluted share, compared with a US$5.339 billion loss and US$7.14 per share a year earlier. Core loss per share was US$0.34. Operating cash flow reached US$1.5 billion and free cash flow was US$0.5 billion.
Commercial Airplanes generated US$10.7 billion in revenue but recorded a negative operating margin of 6.5%. The result reflected the delivery mix, higher projected costs associated with future production-rate adjustments and increased estimated supply-chain costs.
Defence, Space & Security produced US$7.9 billion in revenue and a 6.2% operating margin, including a US$252 million gain from the sale of HRL Laboratories. Global Services reported US$5.6 billion in revenue and an 18.3% operating margin, supported by higher volume and favourable mix.
Total company backlog reached a record US$745 billion, including more than 6,300 commercial aircraft. The F/A-XX selection is not yet included in backlog pending completion of the source-selection and evaluation process.