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Tue, Feb 06, 2024

Boeing Reports 4th Quarter 2023 Results

Manufacturer Caps Pretty Good Year with 528 Commercial Deliveries and 1,576 Net Orders

Boeing published its 4th quarter results for 2023, showing that it ended the year with $4.4 billion of free cash flow after generating $6 billion in total.

Overall, they managed to deliver 528 commercial aircraft, and racked up 1,576 net orders as they continued to see renewed interest in their 737 line. Notwithstanding the continued niggles and embarrassments included in the type, like their problems with the deicing equipment or the recent uncommanded door ejection at altitude, the company has continued to get new orders for its wares from carriers around the globe. Overall, the fourth quarter saw them deliver 157 aircraft, while recording 611 orders. Throughout the year, the 737 has remained popular with customers, taking up 396 of the 528 aircraft delivered from the firm all year. As the company runs today, Boeing is seeing 38 of the type produced each month, more or less half of what it would like to build in the coming years. 

The next-best seller, the 787, has been fairly popular in the international market, but it still sits far outpaced by its smaller narrowbody sibling: only 73 of the 528 deliveries made last year came from the Dreamliner family. Below that lay the older 767 and 777 models, with roughly half of the Dreamliner's numbers at 32 and 26 units respectively. The 787 was successfully built at a rate of 5 aircraft per month, meeting a goal set in the beginning of 2023. That being said, it's a small victory among a greater loss, since Boeing once said it wanted to produce 14 787s per month back in 2019. Supply chain issues and supplier woes have continued to kick that can down the road, however, and Boeing just hasn't been able to find the rhythm to that two-step yet.

On the defense side, Boeing had a fine year shipping out AH-64 Apaches, CH-47 Chinooks, F-15 Eagles, P-8 Poseidons, F/A-18 Super Hornets, and KC-46 Tankers. The big numbers there came courtesy of the Apache family, with 20 new-production units delivered and 57 refurbished units delivered to customers. Chinooks saw 20 deliveries, between new and refurbs, with 22 brand-new Hornets delivered too. 13 KC-46s were delivered too, further accelerating the momentum of the model's entry into service. That Pegasus has been a high-demand item for the USAF, with time running out on their half-century old KC-135 Stratotankers. 

FMI: www.boeing.com

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