US-based multinational aircraft manufacturer, Boeing recorded second quarter (Q2) revenue of $19.8bn, GAAP loss per share of $0.25 and core loss per share (non-GAAP) of $0.82.
Compared to Q2 2022, Boeing’s revenue increased by 18% in 2023 from $16.7bn, which the company stated reflects its higher commercial volume and lower defence margins.
During the quarter, Boeing was able to boost commercial aircraft revenue to $8.8bn, driven by 136 deliveries and a ramp-up of its popular 737 programme.
The 737 programme is increasing production to 38 completions per month and anticipates delivering between 400-450 planes this year.
Boeing president and CEO Dave Calhoun highlighted the progress made in Q2 and explained how the company will continue to grow its production in the year ahead.
Calhoun said: “We had a solid Q2 with improved deliveries and strong free cash flow generation. We are well-positioned to meet the operational and financial goals we set for this year and for the long term.
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By GlobalData“While we have more work ahead, we are making progress in our recovery and driving stability in our factories and the supply chain to meet our customer commitments. With demand strong, we’re steadily increasing our production rates across key programs and growing investments in our people, products and technologies.”
The aviation sector has of late enjoyed a strong post-covid revival, exemplified by more than 1,000 aircraft orders and commitments placed with Boeing in the previous year.
Despite continued supply chain issues, Boeing’s reported results in Q2 ending June 2023, demonstrated growth in line with the wider aviation industry.
