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Boeing's Q4 Earnings Lag Estimates, Revenues Decrease Y/Y
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The Boeing Company (BA - Free Report) incurred an adjusted loss of $5.90 per share in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $3.22. The bottom line deteriorated from the year-ago quarter’s reported loss of 47 cents per share.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Including one-time items, the company reported a GAAP loss of $5.46 per share, wider than the year-ago quarter’s reported loss of 4 cents.
The year-over-year deterioration can be attributed to the adverse impact of the International Association of Machinists and Aerospace Workers (IAM) work stoppage and agreement, charges for certain defense programs and costs associated with workforce reductions announced last year.
For 2024, the company incurred an adjusted loss of $20.38 per share, wider than the Zacks Consensus Estimate of a loss of $17.92. The bottom line deteriorated from the year-ago reported loss of $5.81 per share.
The Boeing Company Price, Consensus and EPS Surprise
Revenues amounted to $15.24 billion, which beat the Zacks Consensus Estimate of $15.19 billion by 0.4%. The top line also decreased 31% from the year-ago quarter’s reported figure of $22.02 billion.
The year-over-year deterioration was due to dismal performance by the Commercial Airplanes as well as Defense, Space & Security business segments.
For 2024, BA’s revenues amounted to $66.52 billion, which lagged the Zacks Consensus Estimate of $66.84 billion. The top line also decreased 14% from the year-ago reported figure of $77.79 billion.
Total Backlog
Backlog at the end of the fourth quarter of 2024 totaled $521.34 billion, up from $510.51 billion recorded at the end of the third quarter.
Segmental Performances
Commercial Airplane: Revenues in this segment declined 55% year over year to $4.76 billion, reflecting the impact of the IAM work stoppage and agreement including lower deliveries. The segment incurred an operating loss of $2.09 billion, indicating a major deterioration from the year-ago quarter’s reported operating profit of $0.04 million. This was due to pre-tax charges of $1.1 billion on the 777X and 767 programs.
During the quarter under review, Boeing delivered 57 commercial planes. The figure declined 64% year over year.
The backlog for this segment remained healthy, with more than 5,500 airplanes valued at $435 billion.
Boeing Defense, Space & Security (“BDS”): The segment recorded revenues of $5.41 billion, indicating a year-over-year decline of 20%. It incurred an operating loss of $2.26 billion, implying a deterioration from the year-ago quarter’s operating loss of $0.10 billion. This deterioration was due to pre-tax charges of $1.7 billion from the T-7A, KC-46A Tanker, Commercial Crew, VC-25B and MQ-25 programs.
BDS recorded a backlog of $64 billion, 29% of which comprised orders from international clients.
Global Services: Revenues in this segment improved 6% year over year to $5.12 billion, driven by higher commercial volume and mix. This unit generated an operating income of $998 million, which improved 19% from the prior-year quarter’s level.
Financial Condition
Boeing exited 2024 with cash and cash equivalents of $13.80 billion, and short-term and other investments of $12.48 billion. At the end of 2023, the company had cash and cash equivalents of $12.69 billion, and short-term and other investments worth $3.27 billion.
Long-term debt amounted to $52.59 billion, up from $47.10 billion recorded at the end of 2023.
The company’s operating cash outflow as of Dec. 31, 2024, was $12.08 billion against operating cash inflow of $5.96 billion as of Dec. 31, 2023.
Free cash outflow totaled $14.31 billion at the end of 2024 against free cash inflow of $4.43 billion at the end of 2023.
Teledyne Technologies Inc. (TDY - Free Report) reported fourth-quarter 2024 adjusted earnings of $5.52 per share, which surpassed the Zacks Consensus Estimate of $5.23 by 5.5%. The bottom line also improved 1.5% from $5.44 recorded a year ago.
The company’s total sales were $1.50 billion, which beat the Zacks Consensus Estimate of $1.45 billion by 3.7%. The top line also rose 5.4% from $1.43 billion reported a year ago.
Hexcel Corporation (HXL - Free Report) reported fourth-quarter 2024 adjusted earnings of 52 cents per share, which improved 20.9% from the year-ago quarter’s figure of 43 cents. The bottom line also surpassed the Zacks Consensus Estimate of 51 cents by 2%.
The company’s net sales totaled $473.8 million, which beat the Zacks Consensus Estimate of $471 million by 0.6%. The top line also witnessed an improvement of 3.6% from the year-ago quarter’s figure of $457.5 million.
Textron Inc. (TXT - Free Report) reported fourth-quarter 2024 adjusted earnings of $1.34 per share, which beat the Zacks Consensus Estimate of $1.25 by 7.2%. However, the bottom line declined 16.3% from $1.60 in the year-ago quarter.
The company reported total revenues of $3.61 billion, which missed the Zacks Consensus Estimate of $3.74 billion by 3.5%. Moreover, revenues decreased 7.2% from the year-ago quarter’s level of $3.89 billion.
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Boeing's Q4 Earnings Lag Estimates, Revenues Decrease Y/Y
The Boeing Company (BA - Free Report) incurred an adjusted loss of $5.90 per share in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $3.22. The bottom line deteriorated from the year-ago quarter’s reported loss of 47 cents per share.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Including one-time items, the company reported a GAAP loss of $5.46 per share, wider than the year-ago quarter’s reported loss of 4 cents.
The year-over-year deterioration can be attributed to the adverse impact of the International Association of Machinists and Aerospace Workers (IAM) work stoppage and agreement, charges for certain defense programs and costs associated with workforce reductions announced last year.
For 2024, the company incurred an adjusted loss of $20.38 per share, wider than the Zacks Consensus Estimate of a loss of $17.92. The bottom line deteriorated from the year-ago reported loss of $5.81 per share.
The Boeing Company Price, Consensus and EPS Surprise
The Boeing Company price-consensus-eps-surprise-chart | The Boeing Company Quote
Revenues
Revenues amounted to $15.24 billion, which beat the Zacks Consensus Estimate of $15.19 billion by 0.4%. The top line also decreased 31% from the year-ago quarter’s reported figure of $22.02 billion.
The year-over-year deterioration was due to dismal performance by the Commercial Airplanes as well as Defense, Space & Security business segments.
For 2024, BA’s revenues amounted to $66.52 billion, which lagged the Zacks Consensus Estimate of $66.84 billion. The top line also decreased 14% from the year-ago reported figure of $77.79 billion.
Total Backlog
Backlog at the end of the fourth quarter of 2024 totaled $521.34 billion, up from $510.51 billion recorded at the end of the third quarter.
Segmental Performances
Commercial Airplane: Revenues in this segment declined 55% year over year to $4.76 billion, reflecting the impact of the IAM work stoppage and agreement including lower deliveries. The segment incurred an operating loss of $2.09 billion, indicating a major deterioration from the year-ago quarter’s reported operating profit of $0.04 million. This was due to pre-tax charges of $1.1 billion on the 777X and 767 programs.
During the quarter under review, Boeing delivered 57 commercial planes. The figure declined 64% year over year.
The backlog for this segment remained healthy, with more than 5,500 airplanes valued at $435 billion.
Boeing Defense, Space & Security (“BDS”): The segment recorded revenues of $5.41 billion, indicating a year-over-year decline of 20%. It incurred an operating loss of $2.26 billion, implying a deterioration from the year-ago quarter’s operating loss of $0.10 billion. This deterioration was due to pre-tax charges of $1.7 billion from the T-7A, KC-46A Tanker, Commercial Crew, VC-25B and MQ-25 programs.
BDS recorded a backlog of $64 billion, 29% of which comprised orders from international clients.
Global Services: Revenues in this segment improved 6% year over year to $5.12 billion, driven by higher commercial volume and mix. This unit generated an operating income of $998 million, which improved 19% from the prior-year quarter’s level.
Financial Condition
Boeing exited 2024 with cash and cash equivalents of $13.80 billion, and short-term and other investments of $12.48 billion. At the end of 2023, the company had cash and cash equivalents of $12.69 billion, and short-term and other investments worth $3.27 billion.
Long-term debt amounted to $52.59 billion, up from $47.10 billion recorded at the end of 2023.
The company’s operating cash outflow as of Dec. 31, 2024, was $12.08 billion against operating cash inflow of $5.96 billion as of Dec. 31, 2023.
Free cash outflow totaled $14.31 billion at the end of 2024 against free cash inflow of $4.43 billion at the end of 2023.
Zacks Rank
Boeing currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Teledyne Technologies Inc. (TDY - Free Report) reported fourth-quarter 2024 adjusted earnings of $5.52 per share, which surpassed the Zacks Consensus Estimate of $5.23 by 5.5%. The bottom line also improved 1.5% from $5.44 recorded a year ago.
The company’s total sales were $1.50 billion, which beat the Zacks Consensus Estimate of $1.45 billion by 3.7%. The top line also rose 5.4% from $1.43 billion reported a year ago.
Hexcel Corporation (HXL - Free Report) reported fourth-quarter 2024 adjusted earnings of 52 cents per share, which improved 20.9% from the year-ago quarter’s figure of 43 cents. The bottom line also surpassed the Zacks Consensus Estimate of 51 cents by 2%.
The company’s net sales totaled $473.8 million, which beat the Zacks Consensus Estimate of $471 million by 0.6%. The top line also witnessed an improvement of 3.6% from the year-ago quarter’s figure of $457.5 million.
Textron Inc. (TXT - Free Report) reported fourth-quarter 2024 adjusted earnings of $1.34 per share, which beat the Zacks Consensus Estimate of $1.25 by 7.2%. However, the bottom line declined 16.3% from $1.60 in the year-ago quarter.
The company reported total revenues of $3.61 billion, which missed the Zacks Consensus Estimate of $3.74 billion by 3.5%. Moreover, revenues decreased 7.2% from the year-ago quarter’s level of $3.89 billion.