Boeing Reports 4Q21 and Full-Year Financials, 787 Program Continuing to Sting

John Taggart from Sunbury on Thames, Middlesex, CC BY-SA 2.0 , via Wikimedia Commons

LONDON – Boeing has today released its 4Q21 and full-year financials, showing a net loss of $4.29 billion for the year.

Such a loss has been reduced compared to 2020, where net losses were recorded at nearly $12 billion.

With the 737 MAX back in the skies and deliveries slowly beginning to ramp up, the manufacturer is slowly in a place of repair and redevelopment.

It is understood also that the half in 787 productions resulted in a recorded $3.5bn pre-tax non-cash charge, and as the CEO Dave Calhoun mentions, is something that they are working on:

“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,”

“On the 787 programs, we’re progressing through a comprehensive effort to ensure every airplane in our production system conforms to our exacting specifications.”

“While this continues to impact our near-term results, it is the right approach to building stability and predictability as demand returns for the long term.”

“Across the enterprise, we remain focused on safety and quality as we deliver for our customers and invest in our people and in our sustainable future.”

Boeing has also been able to reduce its debt by around $4bn, with its total company backlog at quarter-end recorded at $377 billion.

This has been a particularly difficult year for the manufacturer, but it does appear that slowly but surely, they are heading in the right direction.

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