American planemaker Boeing reported a net loss of $1bn in Q2 2022, compared to a net profit of $50mn in the previous year, on revenues of $16.7bn, down 2% YoY. While its revenues and losses were lower than analysts expected, Boeing recorded positive operating cash flows of $81mn, which beat expectations of a negative cash flow of $343mn. This is a stark reversal from Boeing’s negative operating cash flows of $3.1bn in Q1 2022. Commercial Airplane and Global Services revenues increased 3% YoY to $6.2bn and 6% YoY to $4.3bn respectively, on the back of higher 737 sales and higher commercial sales volume. However, total revenue was weighed down by Defense, Space and Security revenues, which declined 10% to $6.2bn. On its balance sheet, it holds $10bn of cash and cash equivalents, up 25% from end-2021 and owes $57.2bn in total debt, down 1.5% from end-2021. CEO Dave Calhoun said “we were able to generate positive operating cash flow this quarter and remain on track to achieve positive free cash flow for 2022.”
The aerospace firm’s 5.15% 2030s have ticked upwards 1.22 points to trade at 100.54, yielding 5.06%.