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June 2022
April 2022
April 2022
March 2022
January 2022
October 2021
October 2021
September 2021
July 2021
July 2021
▪ |
Financial results significantly impacted by COVID-19 and the 737 MAX grounding
|
▪ |
Revenue of $16.9
billion, GAAP loss per share of ($1.11) and core (non-GAAP)* loss per share of ($1.70) |
▪ |
Operating cash flow of ($4.3) billion; cash and marketable securities of $15.5 billion |
▪ |
Total backlog of
$439 billion, including over 5,000 commercial airplanes |
Table 1. Summary Financial Results |
First Quarter |
|||||
(Dollars in Millions, except per share data) |
2020 |
2019 |
Change | |||
Revenues |
$16,908
|
$22,917
|
(26)% | |||
GAAP |
||||||
(Loss)/Earnings
From Operations |
($1,353) |
$2,350 |
NM
| |||
Operating Margin |
(8.0)%
|
10.3%
|
NM | |||
Net
(Loss)/Earnings |
(641) |
$2,149 |
NM
| |||
(Loss)/Earnings Per Share |
($1.11)
|
$3.75
|
NM | |||
Operating
Cash Flow |
($4,302) |
$2,788 |
NM
| |||
Non-GAAP* |
||||||
Core
Operating (Loss)/Earnings |
($1,700) |
$1,986 |
NM
| |||
Core Operating Margin |
(10.1)%
|
8.7%
|
NM | |||
Core (Loss)/Earnings Per Share |
($1.70)
|
$3.16
|
NM |
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Boeing Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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As technical or quality issues arise during development, we may experience schedule delays and cost impacts, which could increase our estimated cost to perform the work or reduce our estimated price, either of which could result in a material charge or otherwise adversely affect our financial condition.
These programs are ongoing, and while we believe the cost and fee estimates incorporated in the financial statements are appropriate, the technical complexity of these programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, the loss of satellite in-orbit incentive payments, or other financially significant exposure.
Research and development expense decreased by $24 million for the three months ended March 31, 2020 compared with the same periods in 2019 primarily due to reduced spending by Boeing NeXt product development.
BGS earnings from operations for the three months ended March 31, 2020 increased by $55 million compared with the same period in 2019 primarily due to favorable government services performance.
Lower 787 margins reflecting a reduction in the accounting quantity and lower production rates also contributed to lower earnings.
Lower 787 margins reflecting a...Read more
We are taking a number...Read more
37 Table of Contents Research...Read more
These non-GAAP measures should not...Read more
Factors that could result in...Read more
While we believe the cost...Read more
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48 Table of Contents The...Read more
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Management believes these core earnings...Read more
BDS revenues decreased by $545...Read more
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BCA earnings from operations decreased...Read more
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Pension costs allocated to BDS...Read more
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34 Table of Contents The...Read more
The FAS/CAS service cost adjustment...Read more
FAS/CAS service cost adjustment represents...Read more
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35 Table of Contents Unallocated...Read more
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Additionally, we may experience fewer...Read more
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Financial Statements, Disclosures and Schedules
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Material Contracts, Statements, Certifications & more
Boeing Co provided additional information to their SEC Filing as exhibits
Ticker: BA
CIK: 12927
Form Type: 10-Q Quarterly Report
Accession Number: 0000012927-20-000045
Submitted to the SEC: Wed Apr 29 2020 12:54:55 PM EST
Accepted by the SEC: Wed Apr 29 2020
Period: Tuesday, March 31, 2020
Industry: Aircraft