The Boeing Company (NYSE: BA) on Wednesday announced financial results for the fourth of 2022, reporting a sharply narrower net loss, on an adjusted basis. Revenues grew 35%.
Core earnings, adjusted for special items, narrowed sharply to $1.75 per share in the December quarter from $7.69 per share in the year-ago quarter. On an unadjusted basis, the net loss was $663 million or $1.06 per share, compared to a loss of $4.16 billion or $7.02 per share in the fourth quarter of 2021.
The bottom line benefitted from a 35% increase in revenues to $19.9 billion. During the quarter, the company generated $3.5 billion in operating cash flow and $3.1 billion in free cash flow.
“Demand across our portfolio is strong, and we remain focused on driving stability in our operations and within the supply chain to meet our commitments in 2023 and beyond. We are investing in our business, innovating and prioritizing safety, quality, and transparency in all that we do,” said Boeing’s CEO Dave Calhoun.