2023 Boeing Financial Results: $41m earned at BCA–(or was it?)

  • Airbus 2023 earnings are announced on Feb. 15.

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By the Leeham News Team

Feb. 9, 2023, © Leeham News:  On January 31, Boeing released its year end results for the fiscal year and despite the entire company ending up in the red, analysts and investors alike pointed to the bright spot at Boeing Commercial Airplanes (BCA). Positive margins and earnings of $41 million. Some good news finally, after five years of less than stellar results.

Boeing has been beset by problems since its last profitable year in 2018:

  • Two 737 MAX crashes and subsequent grounding, leading to a buildup in inventory.
  • 787 delivery stoppage and a further build-up in inventory, with a $3.5bn write-off.
  • 777X certification delay and a $6.5bn write-off.
  • Numerous and costly production missteps.

The slide continued into 2024 when a 737 Max 9 door plug blew out during an Alaska Airlines flight, leading to increased scrutiny by regulators and further delays to the Max 7 and Max 10 certification process.

With the earnings release, there was some good news amongst the rubble; BCA was finally beginning to turn things around in the right direction, posting positive margins and a gain of $41 million. Not earth-shaking, but a small measurable baby step towards profitability.

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