Boeing Files Q3 2024 10-Q: Financials Revealed

TL;DR

**Boeing's Q3 2024 10-Q is in: See how product & service revenues stacked up vs. last year.**

AI Summary

Boeing Co. filed its 10-Q for the period ending September 30, 2024, reporting on its financial performance. The filing details revenue and expenses across its product and service segments for the third quarter and year-to-date periods of 2024, comparing them to the same periods in 2023. Specific financial figures for these segments are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial data for Boeing, crucial for understanding the company's operational health and future outlook in the aerospace industry.

Risk Assessment

Risk Level: medium — Boeing operates in a highly regulated and capital-intensive industry with significant supply chain and production risks.

Key Numbers

• 2024-09-30 — Period End Date (The end of the reporting period for this 10-Q filing.)
• 2024-01-01 — Year-to-Date Start Date (Beginning of the period for year-to-date financial reporting.)
• 2023-09-30 — Prior Year Period End (End date for comparative financial reporting.)

Key Players & Entities

• BOEING CO (company) — Filer of the 10-Q
• 20240930 (date) — Period of Report for the 10-Q
• 20241023 (date) — Filing Date of the 10-Q

FAQ

Key Financial Figures

• $5.00 — ange on which registered Common Stock, $5.00 Par Value BA New York Stock Exchange

Filing Documents

• ba-20240930.htm (10-Q) — 1952KB
• a202409sep3010qex104.htm (EX-10.4) — 57KB
• a202409sep3010qex15.htm (EX-15) — 11KB
• a202409sep3010kex311.htm (EX-31.1) — 10KB
• a202409sep3010kex312.htm (EX-31.2) — 10KB
• a202409sep3010kex321.htm (EX-32.1) — 4KB
• a202409sep3010kex322.htm (EX-32.2) — 4KB
• ba-20240930_g1.jpg (GRAPHIC) — 24KB
• 0000012927-24-000082.txt ( ) — 11371KB
• ba-20240930.xsd (EX-101.SCH) — 91KB
• ba-20240930_cal.xml (EX-101.CAL) — 108KB
• ba-20240930_def.xml (EX-101.DEF) — 405KB
• ba-20240930_lab.xml (EX-101.LAB) — 936KB
• ba-20240930_pre.xml (EX-101.PRE) — 661KB
• ba-20240930_htm.xml (XML) — 1860KB

Financial Information (Unaudited) Page

Part I. Financial Information (Unaudited) Page

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Statements of Financial Position 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Equity 6 Summary of Business Segment Data 8 Note 1 - Basis of Presentation 9 Note 2 - Spirit Acquisition 10 Note 3 - Earnings Per Share 11 Note 4 - Income Taxes 12 Note 5 - Allowance for Losses on Financial Assets 13 Note 6 - Inventories 14 Note 7 - Contracts with Customers 15 Note 8 - Financing Receivables and Operating Lease Equipment 15 Note 9 - Investments 17 Note 10 - Liabilities, Commitments & Contingencies 17 Note 11 - Arrangements with Off-Balance Sheet Risk 22 Note 12 - Debt 22 Note 13 - Postretirement Plans 24 Note 14 - Share-Based Compensation and Other Compensation Arrangements 24 Note 15 - Shareholders' Equity 26 Note 16 - Derivative Financial Instruments 26 Note 17 - Fair Value Measurements 28 Note 18 - Legal Proceedings 31 Note 19 - Segment and Revenue Information 31 N ote 20 - Subsequent Events 3 5 Report of Independent Registered Public Accounting Firm 36

Forward-Looking Statements

Forward-Looking Statements 37

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Consolidated Results of Operations and Financial Condition 39 Commercial Airplanes 46 Defense, Space & Security 49 Global Services 52 Liquidity and Capital Resources 53 Contingent Obligations 55 Non-GAAP Measures 55

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 56

Controls and Procedures

Item 4. Controls and Procedures 57

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 58

Risk Factors

Item 1A. Risk Factors 58

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 60

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 60

Other Information

Item 5. Other Information 60

Exhibits

Item 6. Exhibits 61 Signature 62 Table of Contents

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements The Boeing Company and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) (Dollars in millions, except per share data) Nine months ended September 30 Three months ended September 30 2024 2023 2024 2023 Sales of products $ 41,326 $ 46,661 $ 14,534 $ 15,060 Sales of services 9,949 9,115 3,306 3,044 Total revenues 51,275 55,776 17,840 18,104 Cost of products ( 43,384 ) ( 43,140 ) ( 18,413 ) ( 14,464 ) Cost of services ( 8,293 ) ( 7,609 ) ( 2,934 ) ( 2,475 ) Total costs and expenses ( 51,677 ) ( 50,749 ) ( 21,347 ) ( 16,939 ) ( 402 ) 5,027 ( 3,507 ) 1,165 Income/(loss) from operating investments, net 59 45 ( 15 ) 28 General and administrative expense ( 3,623 ) ( 3,633 ) ( 1,085 ) ( 1,043 ) Research and development expense, net ( 2,976 ) ( 2,496 ) ( 1,154 ) ( 958 ) Gain on dispositions, net 5 1 Loss from operations ( 6,937 ) ( 1,056 ) ( 5,761 ) ( 808 ) Other income, net 790 919 265 297 Interest and debt expense ( 1,970 ) ( 1,859 ) ( 728 ) ( 589 ) Loss before income taxes ( 8,117 ) ( 1,996 ) ( 6,224 ) ( 1,100 ) Income tax benefit/(expense) 149 ( 216 ) 50 ( 538 ) Net loss ( 7,968 ) ( 2,212 ) ( 6,174 ) ( 1,638 ) Less: net loss attributable to noncontrolling interest ( 16 ) ( 13 ) ( 4 ) ( 2 ) Net loss attributable to Boeing Shareholders ($ 7,952 ) ($ 2,199 ) ($ 6,170 ) ($ 1,636 ) Basic loss per share ($ 12.91 ) ($ 3.64 ) ($ 9.97 ) ($ 2.70 ) Diluted loss per share ($ 12.91 ) ($ 3.64 ) ($ 9.97 ) ($ 2.70 ) Weighted average diluted shares (millions) 616.1 605.0 618.8 607.2 See Notes to the Condensed Consolidated Financial Statements. 1 Table of Contents The Boeing Company and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Dollars in millions) Nine months ended September 30 Three months ended September 30 2024 2023 2024 2023 Net loss ($ 7,968 ) ($ 2,212 ) ($ 6,174 ) ($ 1,638 ) Other comprehensive income/(loss), net of tax: Currency translation

View Full Filing

View this 10-Q filing on SEC EDGAR