Q3 2024 Boeing Co Earnings Call Transcript
Key Points
- Boeing Co (BA) has a substantial backlog of approximately $0.5 trillion, indicating strong demand for its products.
- The company is committed to a cultural transformation, aiming to restore its leadership position in the aerospace industry.
- Boeing Co (BA) is actively working on stabilizing its business, with a focus on resolving the IAM strike and restarting production.
- The company is implementing a safety and quality management system to guide production restarts and improve execution discipline.
- Boeing Global Services continues to perform well, with revenue growth and strong operating margins.
- Boeing Co (BA) reported a core loss per share of $10.44, primarily due to the IAM work stoppage and charges on commercial and defense programs.
- Free cash flow was negative, with a usage of $2 billion in the quarter, impacted by lower deliveries and unfavorable working capital timing.
- The company faces significant challenges in its defense business, with $2 billion in pre-tax charges on several programs.
- Boeing Co (BA) is dealing with a high debt level, ending the quarter with $57.7 billion in debt.
- The company anticipates negative free cash flow for the full year 2025, with ongoing challenges in ramping up production and managing costs.
Thank you for standing by. Good day, everyone, and welcome to the Boeing Company's third quarter 2024, earnings conference call. Today's call is being recorded. The management discussion and slide presentation plus the analyst question-and-answer session are being broadcast live over the Internet. (Operator Instructions) At this time, for opening remarks and introductions, I am turning the call over to Mr. Matt Welch, Vice President of Investor Relations for the Boeing Company. Mr. Welch, please go ahead.
Thank you, and good morning. Welcome to Boeing's quarterly earnings call. I am Matt Welch, and with me today are Kelly Ortberg, Boeing's President and Chief Executive Officer; and Brian West, Boeing's Executive Vice President and Chief Financial Officer. And as a reminder, you can follow today's broadcast and slide presentation at boeing.com.
Projections, estimates and goals included in today's discussion involve risks, including those described in our SEC filings and in the forward-looking statement
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
