Boeing Reports Q4 Miss

Boeing (NYSE:BA) reported its Q4 results, with EPS of ($1.75) coming in worse than the Street estimate of $0.27, as its key commercial airplane division suffered from delays to the production of its 777-9 widebody aircraft announced earlier in 2022. Revenue was $19.98 billion, missing the Street estimate of $20.37 billion.

The company posted $3.1 billion in Q4 free cash flow, slightly ahead of expectations. Margins were notably soft in both the BCA and BDS segments, and the company provided more cautious view on production rates.

Management reiterated its fiscal 2023 guidance of $4.5-$6.5 billion of operating cash flow and $3.0-$5.0 billion free cash flow (FCF).