Boeing Q2 Revenue Surges to USD22.75B

(MENAFN) The Boeing Company announced Tuesday that its revenue for the second quarter surged to $22.75 billion, marking a 35% increase compared to the same period last year, alongside a reduced net loss of $610 million for the quarter.

The aerospace giant reported a loss of $0.92 per share. Operating cash flow reached $230 million during this period.

These results primarily reflect enhanced operational efficiency and a rebound in commercial aircraft deliveries following last year’s strike, which had halted most production, Boeing stated.

Revenue from Commercial Airplanes totaled $10.87 billion in Q2, with an operating margin of -5.1%, driven mainly by a significant rise in deliveries. Boeing handed over 150 planes during the quarter, up 63% from 92 aircraft a year earlier.

Boeing is currently navigating a certification setback caused by unexpectedly complex engine de-icing system issues on its 737 MAX fleet, CEO Kelly Ortberg disclosed in an interview with media.

"As we look to the second half of the year, we remain focused on restoring trust and making continued progress in our recovery while operating in a dynamic global environment," Ortberg said in a company statement.

The Defense, Space & Security segment generated $6.62 billion in revenue, with a 1.7% operating margin reflecting more stable operational results.

Meanwhile, Global Services posted $5.3 billion in revenue and a strong operating margin of 19.9% for the quarter.

Ortberg emphasized in the release, "fundamental changes to strengthen safety and quality are producing improved results as we stabilize our operations and deliver higher quality airplanes, products and services to our customers."

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