Adjustments for Non-Cash Items (USD, millions)

Stock-Based Compensation (USD, millions)

Changes in Working Capital (USD, millions)

Capital Expenditures (CapEx) (USD, millions)

Proceeds from Debt (USD, millions)

Repayments of Debt (USD, millions)

Share Repurchases (USD, millions)

Dividend Payments (USD, millions)

Net Change in Cash (USD, millions)

49e0890e1652ef1424fc3a9d393e540c42595ffec87b273a69905c71d2b06403

Sales of Products (USD, millions)

Sales of Services (USD, millions)

Total Revenues (USD, millions)

Cost of Products (USD, millions)

Cost of Services (USD, millions)

Total Costs and Expenses (USD, millions)

Operating Income/Loss (USD, millions)

Income/(loss) from Operating Investments, Net (USD, millions)

General and Administrative Expense (USD, millions)

Research and Development Expense, Net (USD, millions)

Gain on Dispositions, Net (USD, millions)

Other Income, Net (USD, millions)

Interest and Debt Expense (USD, millions)

Loss Before Income Taxes (USD, millions)

Income Tax Benefit/(Expense) (USD, millions)

Net Loss (USD, millions)

Net Loss Attributable to Noncontrolling Interest (USD, millions)

Net Loss Attributable to Boeing Shareholders (USD, millions)

Mandatory Convertible Preferred Stock Dividends Accumulated During the Period (USD, millions)

Net Loss Attributable to Boeing Common Shareholders (USD, millions)

Basic Loss per Share (USD)

Diluted Loss per Share (USD)

9a7e867fc652e7f31174a05de824bb462cdaea8c94f3156ca4b25871fa45c275

9d1733530d0bafb113118cbe833b00e49e5b827c2196f78182e84567e2fb5285

fdc38771db8774a923f8cf0f97674d82dd21798f068ba7a027d1abca6825c978

b7d6e7a7f192c3e69bb00be3ee69a6d45db1b5c8210d78381a580447cf90e609

The dramatic drop in **Total Revenues** in **Q4 2024** was driven by several key factors. **Lower commercial airplane deliveries** (with only **57 airplanes** delivered versus **157** in Q4 2023) significantly reduced revenue. Additionally, an **IAM work stoppage** disrupted production schedules, particularly affecting the 737, 767, and 777/777X programs, which further compounded the revenue decline. Finally, **$1.7 billion in pre-tax defensive program charges** on several major programs and substantial declines in revenue for both the **Commercial Airplanes** (down 55%) and **Defense, Space & Security** (down 20%) segments contributed to the overall decrease.  **[BA_3413375_3]** **[0000012927-25-000010_a202412dec318kprex991.htm:1]** **[20250128CG05706:2]** **[0000012927-25-000010_a202412dec318kprex991.htm:10]** **[20250128CG05706:0]** **[20250128CG05706:6]** 

Why did Total Revenues drop so dramatically in Q4 2024?

Boeing’s Operating Income turned negative in Q3 2024 primarily due to several major factors. The Commercial Airplanes segment experienced significant reach-forward losses—around **$3 billion** on the **777X** and **767 programs**—compounded by production disruptions from the **IAM work stoppage**, increased research and development expenses, and lower deliveries of the **777** and **787** programs, all of which greatly eroded margins. Additionally, the Defense, Space & Security segment incurred higher pre-tax charges on major fixed-price development programs, such as the **T-7A, KC-46A**, and **MQ-25 programs**, and saw increased losses from eliminations and unallocated items. These combined issues drove the operating loss to significantly worsen in Q3 2024.  **[BA_3403382_4]** **[20241023CG37809:1]** **[0000012927-24-000082_ba-20240930.htm:40]** **[0000012927-24-000082_ba-20240930.htm:45]** 

What caused Operating Income to turn negative in Q3 2024?

The steep increase in loss per share in Q3 2024 was primarily driven by several key factors. **IAM Work Stoppage** disrupted production and weakened revenue generation. Additionally, the company incurred significant **pre-tax earnings charges**—**$3.0 billion** on its 777X and 767 programs in the Commercial Airplanes segment and **$2.0 billion** on various Defense programs—which markedly increased overall losses. Furthermore, **lower revenues** combined with an **increased net loss** and a slight rise in **weighted average shares outstanding** compounded the per-share impact.  **[20241023CG37809:0]** **[0000012927-24-000079_a202409sep308kprex991.htm:0]** **[20241011CG29508:0]** **[0000012927-24-000067_a202410oct118kexhibit991.htm:0]** **[0000012927-24-000082_ba-20240930.htm:12]** 

What drove the steep increase in loss per share in Q3 2024?

The severe deterioration in basic EPS in FY 2024 is primarily due to **substantially higher net losses** and **an increased weighted average number of shares outstanding**. Boeing’s net loss grew sharply as it incurred significant reach-forward losses on programs like the **777X and 767**, faced **737-9 customer challenges** related to the January 2024 grounding, and experienced **lower deliveries** alongside production disruptions and higher fixed-price charges on development programs. Additionally, the **weighted average shares outstanding increased from 605.8 million in FY 2023 to 646.9 million in FY 2024**, which further diluted EPS. These combined factors led to a jump in the basic loss per share from **($3.67) in FY 2023** to **($18.36) in FY 2024**.  **[0000012927-25-000010_a202412dec318kprex991.htm:1]** **[0000012927-25-000015_ba-20241231.htm:98]** **[0000012927-25-000015_ba-20241231.htm:42]** **[0000012927-25-000015_ba-20241231.htm:45]** **[0000012927-25-000015_ba-20241231.htm:43]** 

Why did the basic EPS deteriorate so severely in FY 2024?

7455e46c0fbf7808e005d4161b2c406cd3e35e31c370af461749718f7ebd8b5f

The sharp drop in operating cash flow in Q2 2024 was primarily driven by several key factors. **Inventories increased by $5.7 billion** due to lower deliveries in the commercial airplane program; **accounts payable decreased by $1.1 billion**, meaning less cash was retained through payable deferrals; **unbilled receivables went up by $0.6 billion**; **concessions paid to 737 MAX customers more than doubled** (from $273 million to $681 million); and **the supply chain financing program saw a $0.2 billion reduction in payables**. These factors collectively resulted in a **$9.9 billion increase in cash used** for operating activities in Q2 2024 compared to Q2 2023.  **[0000012927-24-000055_ba-20240630.htm:51]** **[0001193125-24-198983_d835944ds4.htm:278]** 

Why did Operating Cash Flow drop so sharply in Q2 2024?

The negative operating cash flow in **FY 2024** was driven by several key factors. First, the **net loss increased** significantly—from **($2,242) million in FY 2023 to ($11,829) million in FY 2024**—which had a substantial impact on cash generation. Additionally, there was a **$12.9 billion unfavorable change** in assets and liabilities, largely due to a **$10.7 billion increase in inventories**, a **$2.5 billion decrease in accounts payable**, and a **$0.4 billion increase in unbilled receivables**. Moreover, production and delivery challenges—including slowed or paused production following an Alaska Airlines accident, ongoing **supply chain constraints**, and the **IAM 751 work stoppage**—further exacerbated the situation. Lastly, increased **customer concessions** totaled **$0.9 billion** in FY 2024. These factors collectively contributed to the significant negative shift in operating cash flow in FY 2024.  **[0000012927-25-000015_ba-20241231.htm:62]** **[0000012927-25-000015_ba-20241231.htm:64]** 

Boeing Co (BA)

Financials