The Boeing Company (NYSE: BA) on Wednesday announced financial results for the first quarter of 2023, reporting a narrower net loss, on an adjusted basis. Revenues grew 28%.
Core loss, adjusted for special items, narrowed sharply to $1.27 per share in the March quarter from $2.75 per share in the year-ago quarter. On an unadjusted basis, the net loss was $425 million or $0.69 per share, compared to a loss of $1.24 billion or $2.06 per share in the first quarter of 2022.
The bottom line benefitted from a 28% increase in revenues to $17.92 billion. The company expects to deliver 400-450 737 airplanes in 2023 and to increase production to 38 per month later this year.
“Demand is strong across our key markets and we are growing investments to advance our development programs and innovate strategic capabilities for our customers and for our future,” said Boeing’s CEO Dave Calhoun.