Boeing (BA) narrows Q3 loss to $116M with 4% revenue rise to $24.19B

Boeing (BA) reported a net loss of $116 million, or 26 cents per share, in the third quarter, an improvement from a $5.34 billion loss a year earlier. Adjusted loss per share was 34 cents, compared to Wall Street's expected loss of 21 cents per share. Revenue rose 4% year-over-year to $24.19 billion, slightly exceeding the $23.84 billion analysts anticipated.

Defense sales contributed significantly, increasing 15% to $7.94 billion. Free cash flow also improved, reaching $464 million versus $238 million in the same period last year. Boeing delivered 161 commercial airplanes, one more than the previous year, though revenue in the commercial aircraft segment declined 3% to $10.72 billion. This segment operated at a negative margin of 6.5%, driven by delivery mix challenges and rising production and supply costs.

Boeing is working to increase its 737 Max production, currently at about 47 planes per month, with plans to raise output next year. The company recently gained U.S. Navy contracts for a next-generation fighter jet and received Federal Aviation Administration approval for the 737 Max 10, completing certification of the Max line. These developments are vital as revenue mainly converts upon aircraft delivery, underpinning Boeing's recovery. Investors will look for production updates during Boeing's upcoming earnings call.