NYSE$BA
Boeing · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Boeing's first quarter results improved on commercial volume and performance.
Boeing reported first-quarter revenue of $17.9 billion, GAAP loss per share of ($0.69), and core loss per share (non-GAAP) of ($1.27). Operating cash flow was ($0.3) billion and free cash flow was ($0.8) billion (non-GAAP).
- Revenue increased to $17.9 billion primarily reflecting 130 commercial deliveries
- Still expect to deliver 400-450 737 airplanes in 2023; plan to increase production to 38 per month later this year
- Operating cash flow of ($0.3) billion and free cash flow of ($0.8) billion (non-GAAP); cash and marketable securities of $14.8 billion
- Total company backlog of $411 billion, including over 4,500 commercial airplanes
Headline financials
Revenue & EPS history
Boeing · Revenue · Quarterly
$17.9B
Revenue by segment
Boeing · $18B total across 3 segments · Q1 2023
- Commercial Airplanes$6.7B+61.1%37.3%
- Defense, Space & Security$6.54B+19.3%36.4%
- Global Services$4.72B+9.4%26.3%
Forward guidance
Boeing reaffirms guidance: $4.5-$6.5 billion of operating cash flow and $3.0-$5.0 billion of free cash flow (non-GAAP). Still expect to deliver 400-450 737 airplanes in 2023; plan to increase production to 38 per month later this year.
Tailwinds
- Demand is strong across our key markets
- Growing investments to advance our development programs
- Innovate strategic capabilities for our customers
- Innovate strategic capabilities for our future
- Supplier master schedule remains unchanged including anticipated production rate increases
Headwinds
- Progressing through recent supply chain disruptions
- Near-term deliveries and production will be impacted as the program performs necessary inspections and rework
- Higher inventory levels
- Operational impact of labor instability
- Supplier quality issue resulting in factory disruption and rework
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.4%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+2.6%
Avg return
30 days after
51%
37 / 73 earnings
Positive
+13.4%
Q2 2017
Best reaction
-7.8%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.9% | +5.6% | +0.0% | |
| Q4 2025 | -1.7% | -5.9% | -7.7% | |
| Q3 2025 | -4.4% | -8.4% | -15.4% | |
| Q2 2025 | -4.4% | -6.1% | -0.1% | |
| Q1 2025 | +6.0% | +12.2% | +24.5% | |
| Q4 2024 | +1.5% | +0.8% | -0.8% | |
| Q3 2024 | -2.9% | -5.7% | -6.6% | |
| Q2 2024 | -4.6% | -10.6% | -7.0% | |
| Q1 2024 | -1.4% | +2.5% | +3.2% | |
| Q4 2023 | +4.7% | +3.1% | -0.2% | |
| Q3 2023 | -1.8% | -0.0% | +20.6% | |
| Q2 2023 | +9.2% | +11.5% | +4.3% | |
| Q1 2023 | +1.9% | +0.8% | +0.7% | |
| Q4 2022 | +0.4% | -1.1% | -6.5% | |
| Q3 2022 | -4.7% | -2.8% | +21.6% | |
| Q2 2022 | +2.0% | +8.4% | +5.5% | |
| Q1 2022 | -7.7% | -11.0% | -20.8% | |
| Q4 2021 | -7.0% | -1.9% | -1.3% | |
| Q3 2021 | -0.9% | +2.3% | -5.1% | |
| Q2 2021 | +4.2% | +1.4% | -0.2% | |
| Q1 2021 | -2.7% | -3.0% | +1.9% | |
| Q4 2020 | -2.4% | -3.1% | +4.9% | |
| Q3 2020 | -4.5% | -4.3% | +39.5% | |
| Q2 2020 | -5.2% | -5.0% | +2.9% | |
| Q1 2020 | +7.4% | +0.1% | +11.1% | |
| Q4 2019 | +2.1% | -0.2% | -13.1% | |
| Q3 2019 | +2.2% | +1.2% | +10.2% | |
| Q2 2019 | -6.7% | -8.8% | -4.6% | |
| Q1 2019 | +2.3% | +1.3% | -5.1% | |
| Q4 2018 | +5.7% | +8.8% | +20.7% | |
| Q3 2018 | +3.9% | -4.1% | -10.8% | |
| Q2 2018 | +0.3% | -2.0% | -2.5% | |
| Q1 2018 | +4.2% | +1.4% | +9.4% | |
| Q4 2017 | +5.7% | -2.6% | +2.1% | |
| Q3 2017 | -2.5% | -2.5% | -0.0% | |
| Q2 2017 | +13.4% | +14.1% | +11.0% | |
| Q1 2017 | -0.2% | -0.6% | +1.7% | |
| Q4 2016 | +5.3% | +3.1% | +10.5% | |
| Q3 2016 | +3.1% | +2.5% | +7.9% | |
| Q2 2016 | -1.4% | -1.2% | -1.9% | |
| Q1 2016 | +1.2% | — | — | |
| Q4 2015 | -7.8% | — | — | |
| Q3 2015 | +5.3% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | -2.3% | — | — | |
| Q4 2014 | +11.5% | — | — | |
| Q3 2014 | -4.0% | — | — | |
| Q2 2014 | -4.1% | — | — | |
| Q1 2014 | +1.8% | — | — | |
| Q4 2013 | -7.7% | — | — | |
| Q3 2013 | +5.3% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | +4.0% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q4 2011 | -1.8% | — | — | |
| Q3 2012 | -1.8% | — | — | |
| Q2 2012 | +4.0% | — | — | |
| Q1 2012 | +1.1% | — | — | |
| Q3 2011 | +5.9% | — | — | |
| Q2 2011 | +0.7% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2010 | -0.1% | — | — | |
| Q3 2010 | +3.5% | — | — | |
| Q1 2009 | -2.0% | — | — | |
| Q2 2010 | -2.0% | — | — | |
| Q1 2010 | -0.7% | — | — | |
| Q4 2007 | +2.3% | — | — | |
| Q4 2009 | +2.3% | — | — | |
| Q3 2009 | -1.6% | — | — | |
| Q3 2008 | -1.6% | — | — | |
| Q2 2009 | -2.5% | — | — | |
| Q2 2008 | -2.5% | — | — | |
| Q4 2008 | -2.5% | — | — |
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