Key points:
- Boeing EPS -$7.02
- Boeing revenue $14.8 billion
- Boeing shares fall premarket
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Boeing (NYSE: BA) announced an earnings per share of -$7.02 before the bell on Wednesday, with revenue coming in at $14.8 billion.
Both earnings and EPS missed analyst expectations of -$0.30 and $16.86 billion, respectively.
The numbers reported were against an anticipated EPS of -$0.30 and revenue of $16.86 billion.
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Commercial airplanes fourth-quarter revenue increased slightly to $4.8 billion, primarily driven by higher 737 deliveries but partially offset by lower widebody deliveries.
David Calhoun, Boeing President and CEO, said: “2021 was a rebuilding year for us as we overcame hurdles and reached key milestones across our commercial, defense and services portfolios. We increased 737 MAX production and deliveries, and safely returned the 737 MAX to service in nearly all global markets.
“As the commercial market recovery gained traction, we also generated robust commercial orders, including record freighter sales. Demonstrating progress in our overall recovery, we also returned to generating positive cash flow in the fourth quarter.”
In reaction to the report Boeing’s share price has moved 0.8% lower premarket to $202.46 after initially falling almost 3%.