Boeing Co (NYSE:BA, XETRA:BCO) reported stronger-than-expected first quarter results on Wednesday, with revenue and earnings surpassing analyst forecasts, supported by higher commercial aircraft deliveries and improving operational performance.
Revenue for the quarter came in at $22.2 billion, up 14% year over year and above the consensus estimate of $21.79 billion.
The increase was primarily driven by higher commercial aircraft output, with the company delivering 143 airplanes during the period.
On profitability, Boeing reported an adjusted (core) loss per share of $0.20, significantly better than the $0.76 loss per share expected by analysts. The narrower-than-anticipated loss reflected improved execution and higher delivery volumes across its commercial operations.
Adjusted free cash flow remained negative at $1.5 billion, but also came in ahead of expectations for a larger outflow. GAAP loss per share was $0.11, compared with $0.16 in the prior-year period.
Net losses narrowed to $7 million from $31 million a year earlier, while operating earnings showed modest movement year over year.
Total company backlog rose to a record $695 billion, including more than 6,100 commercial aircraft, underscoring sustained demand across both commercial and defense segments.
Segment performance was mixed. The defense unit delivered operating earnings above expectations, while the commercial airplanes division continued to post an operating loss, though at a reduced level compared with prior quarters.
"We're building on our momentum with a strong start to the year and growing record-breaking backlog across our business, while supporting our customers with inspiring missions like Artemis II," Boeing CEO Kelly Ortberg said in a statement.
"With a continued focus on safety and quality, we're delivering high-quality commercial and defense products and services, while increasing production to uphold our customer commitments and get back to the iconic global aerospace company that leads our industry.”
Boeing’s shares rose more than 3% to about $226 following the release.