Jakarta – Boeing Company unveiled its third-quarter financial performance for 2023 on Wednesday (25/10/2023), showcasing a remarkable 13% surge in revenue to $18.1 billion, equivalent to Rp287.26 trillion at an exchange rate of Rp15,871 per US dollar. This upward trajectory was primarily fueled by heightened activity in service operations and the delivery of commercial aircraft. Despite this revenue boost, Boeing reported a net loss of $1.64 billion during the quarter, with GAAP loss per share at $2.70 and core loss per share (non-GAAP) at $3.26. The Q3/2023 results were notably influenced by challenges in the defense segment and lower-than-expected 737 deliveries, according to the company’s statement.
Throughout the January-September period, revenue from Commercial Airplanes surged to $7.88 billion from $6.3 billion in the previous year, with the increase primarily driven by heightened 737 deliveries.
In the commercial aircraft realm, Boeing delivered 105 units in Q3 2023, representing a 6% decrease from the 112 units delivered during the same period last year. Year-to-date, deliveries amounted to 371 units. The quarter also witnessed Commercial Airplanes securing 398 net orders, including substantial contracts for the 737 MAX 10, 787, and other aircraft models.
The backlog currently encompasses over 5,100 aircraft units, with a total value of $392 billion. In defense, space, and security programs, Q3 revenue surged to $5.48 billion, with 28 units delivered during the quarter. The total deliveries for 2023 reached 105 aircraft units and three satellites. Global Services also experienced a notable 9% revenue increase to $4.81 billion in Q3, up from $4.43 billion in the previous year. Regarding the 737 program, challenges arose during the quarter due to supplier discrepancies in specific sections of certain aircraft, impacting short-term deliveries and production schedules. Boeing anticipates delivering between 375 and 400 aircraft units by year-end, as the program undergoes necessary inspections and rework. Additionally, the company aims to complete the final assembly transition to 38 units per month by the end of the year, with plans to further ramp up production to 50 units per month by 2025/2026. The 787 program is currently transitioning to produce five aircraft units per month, with intentions to increase this rate to 10 units per month by 2025/2026. Despite these challenges, Dave Calhoun, President and CEO of Boeing, remains confident in the company’s ability to navigate these obstacles and emerge stronger, emphasizing Boeing’s commitment to operational excellence and financial resilience.
