BA Latest Report

Performance Review

Boeing's total operating revenue in 2024 was US$15.242 billion, a decrease of approximately 30.84% from US$22.018 billion in 2023. This significant decline reflects the company's challenges in operating revenue, especially in the backdrop of increased global economic uncertainty, which affects market demand.

Key Data in the Financial Report

1. Boeing's total operating revenue in 2024 was US$15.242 billion, a decrease of approximately 30.84% from US$22.018 billion in 2023.

2. Boeing's research and development expenses in 2024 were US$836 million, a decrease from US$881 million in 2023.

3. Boeing's free net cash outflow in 2024 was a staggering US$10.212 billion, indicating a deteriorating financial situation.

4. Boeing reported a loss of US$355 million in the first quarter of 2024, mainly due to reduced aircraft deliveries and compensation costs from temporary grounding.

Industry Comparison

1. Overall industry analysis: The aviation manufacturing industry has experienced a slow recovery process after the COVID-19 pandemic. Although global air travel demand has rebounded, the rise in raw material costs, supply chain issues, and intensified competition have prevented many aircraft manufacturers from restoring their pre-pandemic revenue levels.

2. Peer evaluation analysis: Boeing's total operating revenue decreased by 30.84% year-on-year, while other major competitors in the industry (such as Airbus) may have shown greater resilience in the market recovery, with increased revenue. This suggests that Boeing's relative competitiveness in the industry is weakening, and investors should closely monitor its future market strategies and operational efficiency.

Summary

Boeing's operating revenue in 2024 has significantly decreased, reflecting the impact of various factors, including weak market demand, supply chain issues, intensified competition, and an unstable recovery from the pandemic. The company needs to take effective measures to improve its financial situation and enhance its market competitiveness.

Opportunities

1. With the recovery of the global aviation industry, the future market demand for the aerospace manufacturing industry may gradually rebound, providing Boeing with an opportunity to increase revenue through increased deliveries.

2. Boeing's focus on improving fuel efficiency and sustainability in its core equipment development may attract more environmentally conscious customers.

3. Boeing's defense, space, and security division has received government funding support, and may secure a stable revenue source through defense projects in the future.

Risks

1. Quality issues and regulatory inspections of the 737 series aircraft may lead to production delays, further affecting revenue.

2. The high free net cash outflow of US$10.212 billion indicates a deteriorating financial situation, which may cause difficulties in financing.

3. The growth of competitors (such as Airbus) in market share may weaken Boeing's market position and affect its long-term development.