Jakarta – On Wednesday (25/10/2023), Boeing Company reported its third-quarter revenue for 2023 at $18.1 billion or approximately Rp287.26 trillion (at an exchange rate of Rp15,871 per US dollar), marking a 13% increase compared to the same period in 2022. This surge was primarily driven by the rising volume of services and commercial aircraft. However, despite this growth, Boeing still posted a net loss of $1.64 billion in that quarter, with GAAP (generally accepted accounting principles) loss per share at $2.70 and core loss per share (non-GAAP) at $3.26. The Q3/2023 results were impacted by underperformance in defense and lower 737 deliveries, the company noted.
Commercial Airplanes revenue during the January-September period saw a significant increase to $7.88 billion from $6.3 billion last year, primarily fueled by a rise in 737 deliveries.
In the commercial aircraft program, Boeing delivered 105 units in Q3 2023, a 6% decrease from 112 units in the same period last year. Year-to-date, deliveries reached 371 units. During the quarter, Commercial Airplanes secured 398 net orders, including 150 units of the 737 MAX 10 for Ryanair, 50 units of the 787 for United Airlines, and 39 units of the 787 for Saudi Arabian Airlines.
The backlog list encompasses over 5,100 aircraft units with a total value of $392 billion. In the defense, space, and security programs, Q3 revenue increased to $5.48 billion. A total of 28 units were delivered in the quarter, bringing the total deliveries for 2023 to 105 units of aircraft and three satellites. Global Services Q3 revenue rose by 9% to $4.81 billion from $4.43 billion last year.
Regarding the 737 program, during the quarter, discrepancies were identified from suppliers in the aft pressure bulkhead section of certain 737 aircraft. Short-term deliveries and production will be impacted as the program undergoes necessary inspections and rework, and the company now estimates delivering between 375 and 400 aircraft units this year, Boeing revealed. In terms of production, suppliers continue to progress with planned rate increases, and Boeing aims to complete the final assembly transition to 38 units per month by the end of the year, with plans to ramp up production to 50 units per month by 2025/2026, Boeing stated. The company’s 787 program is currently transitioning production to five aircraft units per month and plans to increase production to 10 units per month by 2025/2026. The program is still expected to produce 70 to 80 aircraft units this year. “We continue to make progress in our recovery, and despite short-term challenges, we remain on track to meet our financial targets set for this year and the long term,” said Dave Calhoun, President and CEO of Boeing, as quoted by Antara. “We are focused on driving stability in our supply chain and improving operational performance as we increase production rates to meet strong demand… Through our leadership in safety, quality, and transparency, we will continue to restore our operational and financial strength,” he added.