Equities

Boeing Still in the Hole

Starliner stories topped the list of our most popular this year. Image: Boeing
Starliner stories topped the list of our most popular this year. Image: Boeing

Boeing reported a first quarter loss of $1.27 per share on Wednesday, marking the company’s seventh straight quarter in the red, though this quarter was better than last. 

Boeing attributed this to 737 MAX production issues, but still announced a plan to increase production from 31 to 38 planes per month. The company did see a jump in revenue from higher commercial and military sales.

The overall numbers: 

  • Operating cash flow = $300M
  • Revenue = $17.9B, a 28% increase YoY
  • Total backlog = $411B

Breaking out defense & space: 

  • Revenue = $6.5B, a ~19% increase YoY
  • Total backlog = $58B 

Boeing’s Defense, Space, and Security revenue leaned heavily on military orders including 15 KC-46A tankers, an Air Force E-7 development contract, and an award for 184 Apaches from the US Army. 

Pros and cons: Executives didn’t mention Boeing’s space activities in the earnings release or presentation, but the company suffered at least one setback in the quarter: a further delay of the first crewed launch of the CST-100 Starliner spacecraft until at least late July due to lengthy certification paperwork. On the plus side, Boeing opened a new production facility in New Orleans where it will build a new upper stage for SLS. 

Market reaction: Boeing avoided a negative market reaction with cash flow reassurances that kept investor fears at bay despite the larger-than-expected losses. 

Related Stories
EOEquitiesVC/PE

Synspective Goes Public on Tokyo Stock Exchange

The SAR data collector has plans for a thirty satellite constellation.

BusinessEquities

Space Markets: The Year in Review

Space markets surged this year, fueled by robust VC investments in private markets and back-in-vogue space SPACs in the public markets. The good year for space investments is part of a broader bull market, where the prospects of a soft landing have sent speculative stocks soaring. 

AnalysisBusinessEquitiesResearch

Tracking Cash Flow Through the 2024 Space Stocks Rally

Hockeystick SPAC charts. Wallstreetbets Reddit page buzz. Short squeezes. Everything to the Moon euphoria. 

EOEquities

Planet Bounces Back On Record Quarterly Revenue

Plus a new $20M task order from NASA.