Boeing Q4 revenue drops 3% to $14.8bn
With 535 net commercial orders, the 2021 backlog totaled $377 billion.
New York Stock Exchange-listed Boeing reported revenue of $14.8 billion for the fourth quarter ended December 31,2021, a drop of 3 percent from last year, reflecting higher commercial volume and lower defence revenue.
GAAP loss per share of ($7.02) and core loss per share (non-GAAP) of ($7.69) reflect lower charges. Boeing recorded operating cash flow of $0.7 billion.
For the full year, Boeing reported revenue of $62.3 billion, an increase of 7 percent, operating cash flow of $3.4 billion, GAAP loss per share of ($7.15) and core (non-GAAP) loss per share of ($9.44).
With 535 net commercial orders, the backlog totaled $377 billion.
"2021 was a rebuilding year for us as we overcame hurdles and reached key milestones across our commercial, defence and services portfolios," says David Calhoun, President and Chief Executive Officer, Boeing. "We increased 737 MAX production and deliveries, and safely returned the 737 MAX to service in nearly all global markets. As the commercial market recovery gained traction, we also generated robust commercial orders, including record freighter sales. Demonstrating progress in our overall recovery, we also returned to generating positive cash flow in the fourth quarter."
On the 787 programme, Calhoum said Boeing is progressing through a comprehensive effort to ensure every airplane in the production system conforms to "exacting specifications. While this continues to impact our near-term results, it is the right approach to building stability and predictability as demand returns for the long term."
While commercial airplanes deliveries increased 68 percent to 99 in Q42021, full year deliveries more than doubled to (117 percent) to 340. The division also secured orders for 24 freighter aircraft. The Global Services team delivered the 50th 767-300 converted freighter in the fourth quarter.