What explains Boeing's inconsistent net profit since 2022?

Boeing's net profit has been inconsistent since 2022 due to a combination of factors:

1. **Financial Performance Challenges**: Boeing has faced significant net income declines, including a reported $11.83 billion loss by the end of 2024. This trend is a result of various financial targets not being met, such as the 777X program, which has faced delays and production issues.
2. **Supply Chain and Production Hurdles**: The company's 737 program has faced supply chain disruptions, affecting its ability to ramp up production and meet delivery targets. This has impacted profitability due to lower volumes and increased costs associated with managing supplier quality issues.
3. **Market and Geopolitical Factors**: The aerospace industry is sensitive to geopolitical tensions, such as the worsening of Sino-American relations, which have questioned Boeing's ability to operate successfully in the Chinese market. This has added uncertainty to the company's financial outlook.
4. **Operational and Strategic Decisions**: Decisions related to the management of the 777 program, such as the delay in certification for the Max-10, have contributed to the company's financial challenges. Additionally, the company's recent downgrading to Sell by Northcoast Research due to supply-chain hurdles further indicates underlying issues that affect profitability.

In summary, Boeing's inconsistent net profit since 2022 is primarily due to financial performance challenges, supply chain and production hurdles, market and geopolitical factors, and operational and strategic decisions. These factors have collectively impacted the company's profitability and financial stability.