Boeing Reports Second-Quarter Results

CHICAGO, July 24, 2019 — (PRNewswire) —
  • Continue to engage global regulators and customers on safe return to service of the 737 MAX
  • Recorded charge and increased costs related to the 737 MAX, as previously announced
  • Revenue of $15.8 billion reflecting 737 MAX impacts and higher defense and services volume
  • Loss of ($5.21) per share (GAAP) and core (non-GAAP)* loss of ($5.82) per share
  • Operating cash flow of ($0.6) billion; paid $1.2 billion of dividends
  • Total backlog of $474 billion, including more than 5,500 commercial airplanes
  • Cash and marketable securities of $9.6 billion provide strong liquidity
  • Previously issued 2019 guidance does not reflect 737 MAX impacts; new guidance to be issued at a future date

 













Table 1. Summary Financial Results

Second Quarter




First Half



(Dollars in Millions, except per share data)

2019


2018


Change


2019


2018


Change













Revenues

$15,751


$24,258


(35)%


$38,668


$47,640


(19)%













GAAP












(Loss)/Earnings From Operations

($3,380)


$2,710


NM


($1,030)


$5,585


NM

Operating Margin

(21.5)%


11.2%


NM


(2.7)%


11.7%


NM

Net (Loss)/Earnings

($2,942)


$2,196


NM


($793)


$4,673


NM

(Loss)/Earnings Per Share

($5.21)


$3.73


NM


($1.40)


$7.88


NM

Operating Cash Flow

($590)


$4,680


NM


$2,198


$7,816


NM

Non-GAAP*












Core Operating (Loss)/Earnings

($3,745)


$2,393


NM


($1,759)


$4,903


NM

Core Operating Margin

(23.8)%


9.9%


NM


(4.5)%


10.3%


NM

Core (Loss)/Earnings Per Share

($5.82)


$3.33


NM


($2.60)


$6.97


NM


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


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