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Boeing Co (BA) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Boeing Co

CIK: 12927 Ticker: BA
Exhibit 99.1
 


pressreleaseheadera02.jpg
Boeing Reports Second-Quarter Results
Continue to engage global regulators and customers on safe return to service of the 737 MAX
Recorded charge and increased costs related to the 737 MAX, as previously announced
Revenue of $15.8 billion reflecting 737 MAX impacts and higher defense and services volume
Loss of ($5.21) per share (GAAP) and core (non-GAAP)* loss of ($5.82) per share
Operating cash flow of ($0.6) billion; paid $1.2 billion of dividends
Total backlog of $474 billion, including more than 5,500 commercial airplanes
Cash and marketable securities of $9.6 billion provide strong liquidity
Previously issued 2019 guidance does not reflect 737 MAX impacts; new guidance to be issued at a future date
Table 1. Summary Financial Results
 
Second Quarter
 
 
 
First Half
 
 
(Dollars in Millions, except per share data)
 
2019
 
2018
 
Change
 
2019
 
2018
 
Change
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 

$15,751

 

$24,258

 
(35)%
 

$38,668

 

$47,640

 
(19)%
 
 
 
 
 
 
 
 
 
 
 
 
 
GAAP
 
 
 
 
 
 
 
 
 
 
 
 
(Loss)/Earnings From Operations
 

($3,380
)
 

$2,710

 
NM
 

($1,030
)
 

$5,585

 
NM
Operating Margin
 
(21.5
)%
 
11.2
%
 
NM
 
(2.7
)%
 
11.7
%
 
NM
Net (Loss)/Earnings
 

($2,942
)
 

$2,196

 
NM
 

($793
)
 

$4,673

 
NM
(Loss)/Earnings Per Share
 

($5.21
)
 

$3.73

 
NM
 

($1.40
)
 

$7.88

 
NM
Operating Cash Flow
 

($590
)
 

$4,680

 
NM
 

$2,198

 

$7,816

 
NM
Non-GAAP*
 
 
 
 
 
 
 
 
 
 
 
 
Core Operating (Loss)/Earnings
 

($3,745
)
 

$2,393

 
NM
 

($1,759
)
 

$4,903

 
NM
Core Operating Margin
 
(23.8
)%
 
9.9
%
 
NM
 
(4.5
)%
 
10.3
%
 
NM
Core (Loss)/Earnings Per Share
 

($5.82
)
 

$3.33

 
NM
 

($2.60
)
 

$6.97

 
NM
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures."    
CHICAGO, July 24, 2019 – The Boeing Company [NYSE: BA] reported second-quarter revenue of $15.8 billion, GAAP loss per share of ($5.21) and core loss per share (non-GAAP)* of ($5.82), reflecting the previously announced 737 MAX charge (which reduced revenue by $5.6 billion and earnings by $8.74 per share) as well as lower 737 deliveries partially offset by higher defense and services volume (Table 1). Boeing recorded operating cash flow of ($0.6) billion and paid $1.2 billion of dividends.
The previously issued 2019 financial guidance does not reflect 737 MAX impacts. Due to the uncertainty of the timing and conditions surrounding return to service of the 737 MAX fleet, new guidance will be issued at a future date. Boeing is working very closely with the FAA on the process they have laid out to certify the 737 MAX software update and safely return the MAX to service. Disciplined development and testing is underway and we will submit the final software package to the FAA once we have satisfied all of their certification requirements. Regulatory authorities will determine the process for certifying the MAX software and training updates as well as the timing for lifting the grounding order.


1

The following information was filed by Boeing Co (BA) on Wednesday, July 24, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Boeing Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Statement Of Cash Flows Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Equity (Parenthetical)
Condensed Consolidated Statements Of Financial Position
Condensed Consolidated Statements Of Financial Position (Parenthetical)
Condensed Consolidated Statements Of Operations
Acquisitions And Joint Ventures Acquisitions And Joint Ventures (Narrative) (Details)
Acquisitions And Joint Ventures Acquistions And Joint Ventures
Arrangements With Off-Balance Sheet Risk
Arrangements With Off-Balance Sheet Risk (Narrative) (Details)
Arrangements With Off-Balance Sheet Risk (Tables)
Arrangements With Off-Balance Sheet Risk (Third Party Guarantees) (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policy)
Basis Of Presentation Basis Of Presentation (Tables)
Commitments And Contingencies
Commitments And Contingencies (Environmental) (Details)
Commitments And Contingencies (Financing Commitments) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Product Warranties) (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies Commitments And Contingencies (Policies)
Contracts With Customers (Notes)
Contracts With Customers Contracts With Customers (Narrative) (Details)
Customer Financing
Customer Financing (Carrying Values Related To Major Aircraft Concentrations) (Details)
Customer Financing (Financing Receivable Credit Quality Indicators) (Details)
Customer Financing (Narrative) (Details)
Customer Financing (Schedule Of Customer Financing) (Details)
Customer Financing (Tables)
Customer Financing Customer Financing (Policies)
Customer Financing Customer Financing (Scheduled Receipts Of Customer Financing) (Details)
Debt
Debt Narrative (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Narrative) (Details)
Derivative Financial Instruments (Schedule Of Derivative Instruments, Gains/(Losses)) (Details)
Derivative Financial Instruments (Schedule Of Derivative Instruments, Notional Amounts And Fair Values) (Details)
Derivative Financial Instruments (Tables)
Derivative Financial Instruments Derivative Financial Instruments (Schedule Of Gains/(Losses) Reclassified From Aoci To Earnings) (Details)
Earnings Per Share
Earnings Per Share (Schedule Of Weighted Average Number Of Shares Outstanding Excluded From The Computation Of Diluted Earnings Per Share) (Details)
Earnings Per Share (Schedule Of Weighted-Average Number Of Shares Outstanding Used To Compute Earnings Per Share) (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements Fair Value, Assets And Liabilities Measured On Recurring Basis (Details)
Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs (Details)
Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques (Details)
Fair Value Measurements Fair Values And Related Carrying Values Of Financial Instruments (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Inventory Disclosure Table) (Details)
Inventories (Narrative) (Details)
Inventories (Tables)
Investments
Investments (Schedule Of Investments) (Details)
Investments (Tables)
Leases Leases
Leases Leases (Narrative) (Details)
Leases Leases (Tables)
Leases Schedule Of Maturities Of Operating Liabilities (Details)
Leases Schedule Of Supplemental Balance Sheet Information Related To Operating Leases (Details)
Legal Proceedings
Other Assets
Other Assets (Narrative) (Details)
Postretirement Plans
Postretirement Plans (Net Periodic Benefit Cost Tables) (Details)
Postretirement Plans (Tables)
Reconciliation Of Assets From Segment To Consolidated (Details)
Schedule Of Unallocated Items And Eliminations (Details)
Segment And Revenue Information
Segment And Revenue Information (Tables)
Segment And Revenue Information Segment And Revenue Information (Narrative) (Details)
Segment And Revenue Information Segment And Revenue Information (Schedule Of Revenue Disaggregation) (Details)
Share-Based Compensation And Other Compensation Arrangements
Share-Based Compensation And Other Compensation Arrangements (Narrative) (Details)
Shareholders' Equity
Shareholders' Equity (Accumulated Other Comprehensive Income) (Details)
Shareholders' Equity (Tables)
Summary Of Business Segment Data (Details)
Summary Of Business Segment Data Summary Of Business Segment Data (Notes)
Summary Of Business Segment Data Summary Of Business Segment Data (Tables)
Ticker: BA
CIK: 12927
Form Type: 10-Q Quarterly Report
Accession Number: 0000012927-19-000063
Submitted to the SEC: Wed Jul 24 2019 8:42:25 AM EST
Accepted by the SEC: Wed Jul 24 2019
Period: Sunday, June 30, 2019
Industry: Aircraft

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