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ARLINGTON- American aerospace giant Boeing closed its fourth quarter of 2024 with significant financial impacts stemming from multiple operational challenges.
The company reported revenue of $15.2 billion, alongside a GAAP loss per share of ($5.46) and a core loss per share of ($5.90).
Photo: BoeingBoeing FY 2024 Loss
The quarter saw Boeing resolving its dispute with the International Association of Machinists and Aerospace Workers (IAM), enabling the resumption of production across its 737, 767, and 777/777X aircraft programs.
However, the work stoppage’s financial repercussions, combined with defense program charges and workforce reduction costs, contributed to a negative operating cash flow of ($3.5) billion.
Boeing maintained substantial liquidity with $26.3 billion in cash and marketable securities. The aerospace manufacturer’s commercial airplane deliveries reached 348 units throughout 2024, securing 279 net orders. The company’s backlog expanded to $521 billion, encompassing more than 5,500 commercial aircraft.
President and CEO Kelly Ortberg addressed the company’s challenges directly, emphasizing Boeing’s progress in stabilizing operations and enhancing safety and quality protocols. The leadership team has committed to implementing fundamental changes aimed at performance recovery and rebuilding stakeholder trust.
Photo: Clément AlloingDrop in Deliveries
Boeing’s Commercial Airplanes division experienced significant financial setbacks in the fourth quarter of 2024, recording revenue of $4.8 billion with an operating margin of negative 43.9 percent. The IAM work stoppage triggered $1.1 billion in pre-tax charges affecting the 777X and 767 programs, while simultaneously reducing delivery volumes.
The 737 program initiated its production restart, implementing a gradual rate increase strategy. Boeing’s 787 program achieved its five-per-month production target and announced expansion plans for its South Carolina facility. The 777X program advanced its FAA certification process in January 2025, maintaining its projected 2026 delivery timeline for the 777-9.
Commercial orders demonstrated resilience with 204 net bookings, highlighted by Pegasus Airlines’ commitment for 100 737-10 aircraft and flydubai’s order for 30 787-9 planes. The division delivered 57 aircraft during this period, maintaining a substantial backlog of over 5,500 aircraft valued at $435 billion.
Boeing’s Defense, Space & Security segment reported fourth-quarter revenue of $5.4 billion, with an operating margin of negative 41.9 percent. These figures reflect $1.7 billion in pre-tax charges across multiple programs including KC-46A, T-7A, Commercial Crew, VC-25B, and MQ-25.
The U.S. Air Force revised its T-7A Red Hawk acquisition strategy in January 2025, enabling Boeing to deliver production-ready configurations before low-rate initial production. This modification aims to enhance operational efficiency and minimize production risks.
The defense division secured significant contracts, including U.S. Air Force orders for 15 KC-46A tankers and U.S. Navy orders for seven P-8A Poseidon aircraft. The successful delivery of the final T-7A Red Hawk development aircraft marked a crucial milestone. The division’s backlog stands at $64 billion, with international customers representing 29 percent of orders.
Boeing’s Global Services division demonstrated strong performance in the fourth quarter of 2024, generating revenue of $5.1 billion alongside an operating margin of 19.5 percent. The improved financial metrics stem from increased commercial activity and enhanced service mix optimization.
The division strengthened its military portfolio by securing two strategic U.S. Air Force contracts. These include a comprehensive C-17 sustainment program and specialized upgrade services for Japan’s F-15 Super Interceptor fleet.
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