Boeing sharply reduced its third-quarter net loss to 116 million US dollars as revenue rose 4% year on year to 24.188 billion dollars. The improvement reflected stronger defence and services performance, while Commercial Airplanes remained loss-making despite delivering 161 aircraft, including the 737, 767, 777 and 787 families. Boeing also advanced certification of the 737-7 and 737-10 during the quarter.
The quarterly loss compared with 5.339 billion dollars a year earlier. GAAP loss per share was 0.26 dollars, while adjusted core loss per share was 0.34 dollars. Operating cash flow reached 1.5 billion dollars and free cash flow was 0.5 billion dollars.
Commercial Airplanes recorded a 697-million-dollar operating loss. Results were affected by delivery mix, supply-chain costs and production difficulties, with 737 output still being increased from 42 aircraft per month towards a target of 47. The division’s backlog exceeded 6,300 commercial aircraft, valued at 612 billion dollars, while Boeing’s total backlog reached a record 745 billion dollars.
During the quarter, the 737-7 received amended FAA type certification, and the 737-10 achieved certification in October. Boeing was also selected by the US Navy to design, build and deliver the next-generation F/A-XX fighter. The results show improving group cash generation and financial performance, but Boeing remains loss-making overall and its core commercial-aircraft business has yet to return to profit.