Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Boeing tops Q4 expectations but offers no 2024 guidance
(Sharecast News) - Troubled aerospace giant Boeing topped market expectations on fourth quarter losses on Wednesday, but declined to offer guidance for 2024 as it grappled with safety issues with its 737 MAX-9 narrowbody. The company reported a quarterly loss per share of 47 cents, surpassing the expected 78 cents loss.
Revenue also exceeded estimates, totalling $22.02bn, compared to the expected $21.1bn.
In the fourth quarter, Boeing delivered 157 commercial aeroplanes and recorded 611 net orders.
The production rate for the 787 stood at five per month, while the 737 production rate reached 38 per month.
It generated $3.4bn in operating cash flow in the period, and $3bn in free cash flow on a non-GAAP basis.
For the full year, Boeing delivered 528 commercial aircraft and recorded 1,576 net orders, leading to a substantial total company backlog of $520bn, including over 5,600 commercial aircraft.
The company's operating cash flow for the year amounted to $6bn, with free cash flow of $4.4bn.
Despite the positive figures, Boeing remained cautious due to the ongoing 737 MAX 9 crisis.
The company did not provide a 2024 outlook, following an incident where a fuselage panel blew out mid-flight on a near-new 737 MAX 9 on 5 January.
Chief executive officer Dave Calhoun emphasised that the current priority was addressing quality and safety issues, particularly regarding the 737 MAX.
"While we often use this time of year to share or update our financial and operational objectives, now is not the time for that," he said.
Calhoun expressed a commitment to supporting customers, working transparently with regulators, and ensuring the highest standards of safety and quality.
Federal investigators in the US were currently examining the circumstances surrounding the 737 MAX 9 incident.
While the Federal Aviation Administration (FAA) had cleared the MAX 9 to fly again, it halted Boeing's planned production ramp-up, which aimed to reach about 50 MAX planes per month by 2025 or 2026.
At 1024 EST (1524 GMT), shares in the Boeing Company were up 3.4% on the New York Stock Exchange, at $207.26.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
