Jakarta – Boeing Company announced its third-quarter financial results for 2023 on Wednesday (25/10/2023), revealing a notable 13% increase in revenue to $18.1 billion, equivalent to Rp287.26 trillion at an exchange rate of Rp15,871 per US dollar. This growth trajectory was primarily attributed to the escalating volume of both service operations and commercial aircraft deliveries. Despite this positive momentum, Boeing recorded a net loss of $1.64 billion during the quarter, with GAAP loss per share at $2.70 and core loss per share (non-GAAP) at $3.26. The Q3/2023 performance was notably influenced by challenges in the defense segment and a decline in 737 deliveries, as stated by the company.
Throughout the January-September period, revenue from Commercial Airplanes surged to $7.88 billion from $6.3 billion in the previous year, predominantly fueled by increased 737 shipments.
In the realm of commercial aircraft, Boeing dispatched 105 units in Q3 2023, marking a 6% decrease from the 112 units delivered during the same period last year. Year-to-date, deliveries totaled 371 units. The quarter also witnessed Commercial Airplanes securing 398 net orders, including significant contracts for the 737 MAX 10, 787, and other models.
The backlog presently encompasses over 5,100 aircraft units, valued at a total of $392 billion. In defense, space, and security programs, Q3 revenue climbed to $5.48 billion, with 28 units delivered during the quarter, bringing the total deliveries for 2023 to 105 aircraft units and three satellites. Global Services also saw a notable 9% revenue increase to $4.81 billion in Q3, up from $4.43 billion in the previous year. Regarding the 737 program, the quarter faced challenges related to supplier discrepancies in specific sections of certain aircraft, impacting short-term deliveries and production schedules. Boeing anticipates delivering between 375 and 400 aircraft units by year-end, as the program undergoes necessary inspections and rework. Additionally, the company aims to complete the final assembly transition to 38 units per month by the end of the year, with plans to further ramp up production to 50 units per month by 2025/2026. The 787 program is undergoing a transition to produce five aircraft units per month, with intentions to increase this rate to 10 units per month by 2025/2026. Despite these challenges, Dave Calhoun, President and CEO of Boeing, remains optimistic about the company’s trajectory, emphasizing their commitment to restoring operational and financial strength through leadership in safety, quality, and transparency.
