Gate News message, April 23 — Boeing reported narrowed losses and increased aircraft deliveries for the first quarter, with net loss of $7 million (down 77% year-over-year) and parent company net loss of $4 million (down 90% year-over-year). Revenue reached $22.217 billion, up 14% year-over-year, exceeding market expectations. Operating cash flow improved to negative $200 million while free cash flow (non-GAAP) came in at negative $1.5 billion.
The company delivered 143 aircraft in Q1, marking the highest quarterly delivery since 2019, driven by increased civilian aircraft shipments and operational improvements. Boeing’s 737 series delivered 114 units in the quarter, with production currently at 42 units per month. CEO Kelly Ortberg announced plans to increase 737 monthly production to 47 units by summer. Boeing addressed wiring issues on 25 affected aircraft, stating the fixes will not impact full-year delivery targets or the summer production ramp-up. The 737-7 and 737-10 variants are expected to receive certification in 2026, with first deliveries anticipated in 2027.
Backlog orders reached a record $695 billion, with the commercial aircraft division generating $9.203 billion in Q1 revenue (up 13%). Boeing’s 787 program continues at 8 units monthly, with recent FAA approval for increased maximum takeoff weight. The 777X program advanced in certification, with first deliveries expected in 2027 and a monthly production target of 5 units. Management forecasted free cash flow of $1 billion to $3 billion for 2026, with positive cash inflows expected in the second half of this year.
Regarding market outlook, Boeing stated that Middle East tensions currently have no direct impact on deliveries, with no customer requests for delays. The region accounts for approximately 14% of unfilled backlog orders, though two-thirds of those deliveries are scheduled for 2030 or later. On the China market, CEO Ortberg noted that new orders depend on U.S.-China negotiations, with potential for significant aircraft orders if an agreement is reached.
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