Boeing Co (BA) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Boeing Co
Ticker: BA CIK: 12927

Exhibit 99.1

Boeing Reports First-Quarter Results

▪Continued progress on safe return to service of 737 MAX; resumed 787 deliveries in late March

▪Revenue of $15.2 billion, GAAP loss per share of ($0.92) and core (non-GAAP)* loss per share of ($1.53)

▪Operating cash flow of ($3.4) billion; cash and marketable securities of $21.9 billion

▪Total backlog grew to $364 billion; Commercial Airplanes added 76 net orders


Table 1. Summary Financial Results	First Quarter
(Dollars in Millions, except per share data)	2021		2020		Change

Revenues	$15,217		$16,908		(10)%

GAAP
Loss From Operations	($83)		($1,353)		NM
Operating Margin	(0.5)	%	(8.0)	%	NM
Net Loss	($561)		($641)		NM
Loss Per Share	($0.92)		($1.11)		NM
Operating Cash Flow	($3,387)		($4,302)		NM
Non-GAAP*
Core Operating Loss	($353)		($1,700)		NM
Core Operating Margin	(2.3)	%	(10.1)	%	NM
Core Loss Per Share	($1.53)		($1.70)		NM

*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures."

CHICAGO, April 28, 2021

– The Boeing Company [NYSE: BA] reported first-quarter revenue of $15.2 billion, primarily driven by lower 787 deliveries and commercial services volume, partially offset by higher 737 deliveries and higher KC-46A Tanker revenue (Table 1). GAAP loss per share of ($0.92) and core loss per share (non-GAAP)* of ($1.53) reflect year-over-year KC-46A Tanker improvement, higher 737 deliveries, and lower commercial airplanes period costs, partially offset by lower tax benefits and higher interest expense. Boeing recorded operating cash flow of ($3.4) billion.

"I am proud of the progress our global team made across our business in the first quarter as we continued to transform our enterprise, strengthen our safety processes, and sustain critical investments for our future,” said Boeing President and Chief Executive Officer Dave Calhoun. “While the global pandemic continues to challenge the overall market environment, we view 2021 as a key inflection point for our industry as vaccine distribution accelerates and we work together across government and industry to help enable a robust recovery. Our balanced commercial, defense, space and services portfolio continues to provide critical stability for our business – and we remain focused on safety, quality and integrity as we deliver on our customer commitments.”

The following information was filed by Boeing Co (BA) on Wednesday, April 28, 2021 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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