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

Boeing Co

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CIK: 12927 Ticker: BA
Exhibit 99.1
 


pressreleaseheadera02.jpg
Boeing Reports Third-Quarter Results
▪
Continue to engage global regulators and customers on safe return to service of the 737 MAX
▪
Revenue of $20.0 billion reflecting lower 737 deliveries and higher defense and services volume
▪
GAAP EPS of $2.05 and core EPS (non-GAAP)* of $1.45 per share
▪
Operating cash flow of ($2.4) billion; paid $1.2 billion of dividends
▪
Total backlog of $470 billion, including nearly 5,500 commercial airplanes
▪
Cash and marketable securities of $10.9 billion provide strong liquidity
Table 1. Summary Financial Results
 
Third Quarter
 
 
 
Nine Months
 
 
(Dollars in Millions, except per share data)
 
2019
 
2018
 
Change
 
2019
 
2018
 
Change
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 

$19,980

 

$25,146

 
(21)%
 

$58,648

 

$72,786

 
(19)%
 
 
 
 
 
 

 
 
 
 
 

GAAP
 
 
 
 
 

 
 
 
 
 

Earnings From Operations
 

$1,259

 

$2,227

 
(43)%
 

$229

 

$7,812

 
(97)%
Operating Margin
 
6.3
%
 
8.9
%
 
(2.6) Pts
 
0.4
 %
 
10.7
%
 
(10.3) Pts
Net Earnings
 

$1,167

 

$2,363

 
(51)%
 

$374

 

$7,036

 
(95)%
Earnings Per Share
 

$2.05

 

$4.07

 
(50)%
 

$0.66

 

$11.95

 
(94)%
Operating Cash Flow
 

($2,424
)
 

$4,559

 
NM
 

($226
)
 

$12,375

 
NM
Non-GAAP*
 
 
 
 
 

 
 
 
 
 

Core Operating Earnings/(Loss)
 

$895

 

$1,890

 
(53)%
 

($864
)
 

$6,793

 
NM
Core Operating Margin
 
4.5
%
 
7.5
%
 
(3.0) Pts
 
(1.5
)%
 
9.3
%
 
(10.8) Pts
Core Earnings/(Loss) Per Share
 

$1.45

 

$3.58

 
(59)%
 

($1.13
)
 

$10.55

 
NM
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures."    
CHICAGO, October 23, 2019 – The Boeing Company [NYSE: BA] reported third-quarter revenue of $20.0 billion, GAAP earnings per share of $2.05 and core earnings per share (non-GAAP)* of $1.45, reflecting lower 737 deliveries partially offset by higher defense and services volume (Table 1). Boeing recorded operating cash flow of ($2.4) billion and paid $1.2 billion of dividends.
Boeing has developed software and training updates for the 737 MAX and continues to work with the FAA and global civil aviation authorities to complete remaining steps toward certification and readiness for return to service. These regulatory authorities will determine the timing and conditions of return to service in each relevant jurisdiction. For purposes of the third-quarter results, the company has assumed that regulatory approval of the 737 MAX return to service begins in the fourth quarter of 2019 and that it will gradually increase the 737 production rate from 42 per month to 57 per month by late 2020.
“Our top priority remains the safe return to service of the 737 MAX, and we’re making steady progress,” said Boeing President and Chief Executive Officer Dennis Muilenburg. “We’ve also taken action to further sharpen our company’s focus on product and services safety, and we continue to deliver on customer commitments and capture new opportunities with our values of safety, quality and integrity always at the forefront.”        

1
The following information was filed by Boeing Co (BA) on Wednesday, October 23, 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 Contracts With Customers
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 (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: 0000012927-19-000077
Submitted to the SEC: Wed Oct 23 2019 8:44:54 AM EST
Accepted by the SEC: Wed Oct 23 2019
Period: Monday, September 30, 2019
Industry: Aircraft

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