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Boeing Co (BA) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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Boeing Co

CIK: 12927 Ticker: BA
Exhibit 99.1
 


pressreleaseheadera02.jpg
Boeing Reports First-Quarter Results
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
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures."    
CHICAGO, April 29, 2020 – The Boeing Company [NYSE: BA] reported first-quarter revenue of $16.9 billion, GAAP loss per share of ($1.11) and core loss per share (non-GAAP)* of ($1.70), primarily reflecting the impacts of COVID-19 and the 737 MAX grounding (Table 1). Boeing recorded operating cash flow of ($4.3) billion.
The COVID-19 pandemic is affecting every aspect of our business, including airline customer demand, production continuity and supply chain stability,” said Boeing President and CEO David Calhoun. “Our primary focus is the health and safety of our people and communities while we take tough but necessary action to navigate this unprecedented health crisis and adapt for a changed marketplace.”
As the pandemic continues to reduce airline passenger traffic, Boeing sees significant impact on the demand for new commercial airplanes and services, with airlines delaying purchases for new jets, slowing delivery schedules and deferring elective maintenance. To align the business for the new market reality, Boeing is taking several actions that include reducing commercial airplane production rates. The company also announced a leadership and organizational restructuring to streamline roles and responsibilities, and plans to reduce overall staffing levels with a voluntary layoff program and additional workforce actions as necessary.
    


1

The following information was filed by Boeing Co (BA) on Wednesday, April 29, 2020 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
Allowance For Losses On Financial Assets Allowance For Losses On Financial Assets
Allowance For Losses On Financial Assets Allowance For Losses On Financial Assets (Allowance Disclosure) (Details)
Allowance For Losses On Financial Assets Allowance For Losses On Financial Assets (Tables)
Allowance For Losses On Financial Assets Allowances For Losses On Financial Assets (Narrative) (Details) (Details)
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)
Commitments And Contingencies Commitments And Contingencies (Schedule Of 737 Max Liability) (Details)
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)
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 Values And Related Carrying Values Of Financial Instruments (Details)
Goodwill And Acquired Intangibles Goodwill And Acquired Intangibles
Goodwill And Acquired Intangibles Goodwill And Acquired Intangibles (Narrative) (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)
Legal Proceedings
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: 0000012927-20-000045
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

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