AMERICAN aircraft manufacturing giant boeing declared a year-on-year net loss of US$4.39 billion from January to September, drawn on revenues of $46.62 billion, down two per cent.
Third-quarter results reflect higher commercial volume and losses on fixed-price defence development programmes with the company generating an operating cash flow of $3.2 billion.
'We continue to make important strides in our turnaround and remain focused on our performance,' said Boeing president and CEO Dave Calhoun.
'We're squarely focused on mitigating risks. We remain in a challenging environment and have more work ahead to drive stability, improve performance and ensure we're consistently delivering on commitments,' he said.
Commercial Airplane's third-quarter revenue increased to $6.3 billion, driven by the resumption of 787 deliveries and higher 737 deliveries. The operating margin of 10.3 per cent also reflects lower abnormal costs as compared to the third quarter of 2021, partially offset by higher period expenses, including R&D expenses.
Boeing also resumed 787 deliveries in late August, following comprehensive reviews to ensure each plane meets the company's highest standards. The programme is producing at a low rate with an expected gradual return to five per month over time.
Defence, Space & Security third-quarter revenue decreased to $5.3 billion and third-quarter operating margin decreased to 52.7 per cent, primarily due to $2.8 billion of losses on certain fixed-price development programmes, driven by higher estimated manufacturing and supply chain costs.
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Third-quarter results reflect higher commercial volume and losses on fixed-price defence development programmes with the company generating an operating cash flow of $3.2 billion.
'We continue to make important strides in our turnaround and remain focused on our performance,' said Boeing president and CEO Dave Calhoun.
'We're squarely focused on mitigating risks. We remain in a challenging environment and have more work ahead to drive stability, improve performance and ensure we're consistently delivering on commitments,' he said.
Commercial Airplane's third-quarter revenue increased to $6.3 billion, driven by the resumption of 787 deliveries and higher 737 deliveries. The operating margin of 10.3 per cent also reflects lower abnormal costs as compared to the third quarter of 2021, partially offset by higher period expenses, including R&D expenses.
Boeing also resumed 787 deliveries in late August, following comprehensive reviews to ensure each plane meets the company's highest standards. The programme is producing at a low rate with an expected gradual return to five per month over time.
Defence, Space & Security third-quarter revenue decreased to $5.3 billion and third-quarter operating margin decreased to 52.7 per cent, primarily due to $2.8 billion of losses on certain fixed-price development programmes, driven by higher estimated manufacturing and supply chain costs.
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