Boeing Co. (NYSE:BA) reported a larger-than-expected adjusted loss for the second quarter, although revenue exceeded market forecasts as aircraft deliveries increased and the aerospace manufacturer generated positive cash flow.
Shares rose around 1.2% following the results
Revenue Tops Expectations as Deliveries Increase Boeing posted an adjusted loss of $0.76 per share for the second quarter, falling short of the analyst consensus estimate of a loss of $0.29 per share. Revenue increased 8% year over year to $24.6 billion, ahead of the expected $23.95 billion. The company delivered 171 commercial aircraft during the quarter, compared with 150 aircraft in the same period a year earlier.
Operating cash flow reached $1.4 billion, while free cash flow totalled $0.6 billion. Boeing’s order backlog expanded to a record $715 billion, including more than 6,200 commercial aircraft. “I’m very pleased with the progress our team is making as we execute our plan. Our operations are more stable and key certification programs remain on plan,” said Kelly Ortberg, Boeing president and chief executive officer.