Boeing set a record with its profit in the Fourth Quarter.

Boeing's Fourth Quarter Performance and Expectations

Boeing closed the fourth quarter of 2023 with strong financial performance. The company's revenue reached $23.9 billion, significantly exceeding analysts' expectations of $22.6 billion. Net profit was reported at $8.22 billion, while adjusted earnings per share was $9.92, surpassing market forecasts.

Increase in Aircraft Deliveries

One of the key factors behind Boeing's successes has been the notable recovery in aircraft deliveries. The company aims to deliver a total of 600 aircraft by 2025, representing the highest level since 2018. In the fourth quarter, the monthly production rate for the 737 program was increased to 42 aircraft. Additionally, a process was announced to raise the production rate for the 787 program to eight aircraft per month.

Developments in the 777X Program

As the long-awaited 777X program has shifted to a new phase of certification flight testing, the first delivery is targeted for 2027. During this process, Boeing’s total order backlog reached a record level of $682 billion by the end of the quarter, covering more than 6,100 commercial aircraft.

Financial Stability and Vision

The company also reported that it has maintained access to a $10 billion credit line, which has not yet been utilized. Boeing's CEO Dave Calhoun, in a message shared with employees, emphasized the company's progress, stating, "Progress comes with expectations. Our customers and stakeholders will expect more from us this year."