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Adjusted EPS loss widened to $(0.37) from $(0.40) in 2Q21, missing the consensus of $(0.16).
The adjusted operating margin declined to 2.9% compared to 4.4% a year ago. GAAP operating margin was 4.6% versus 6% last year.
Revenue by segments: Commercial Airplanes $6.22 billion (+3% Y/Y), Defense, Space & Security $6.19 billion (-10% Y/Y), and Global Services $4.29 billion (+6% Y/Y).
Boeing’s net cash used in operating activities year-to-date was $(3.13) billion compared to $(3.87) billion a year ago.
Operating cash flow for Q2 was $0.1 billion, reflecting higher commercial deliveries and timing of receipts and expenditures. BA continues to expect positive cash flow for FY22.
Boeing delivered 121 commercial airplanes in the quarter, and the backlog included nearly 4,200 airplanes valued at $297 billion.
Boeing’s backlog was $371.73 billion. Backlog at Defense, Space & Security was $55 billion, of which 33% represents orders from customers outside the U.S.
The 737 production rate increased to 31 airplanes per month during the quarter.
During the quarter, the company launched the 777-8 Freighter with an order from Qatar Airways.
Boeing’s cash and investments in marketable securities decreased to $11.4 billion, compared to $12.3 billion at the beginning of the quarter, primarily driven by debt repayment.
Price Action: BA shares are trading higher by 3.15% at $160.83 during the premarket session on Wednesday.
