Boeing Reports Losses Amid Delays With 787 Program

CEO David Calhoun remained optimistic about his company’s ability to turn things around.

Michael Wildes

Wednesday, January 26, 2022 at 05:06 PM ET

Verified

Boeing delivered 99 jetliners, 84 of which were 737 Maxs in the fourth quarter of 2021. [Courtesy: Boeing]

Key Takeaways:

Boeing reported a third consecutive annual loss in 2021 ($4.29 billion), though it showed significant improvement over the prior year, with CEO David Calhoun optimistic about a turnaround.
The company increased 737 Max production and deliveries after its safe return to service, but faced substantial financial charges and ongoing production delays with its 787 program.
Despite these challenges, Boeing's 2021 revenue increased by 7% and it achieved positive free cash flow in Q4, supported by a large order backlog and growth in its global services segment.
Boeing made a strategic $450 million investment in Wisk Aero's autonomous eVTOL technology, highlighting its commitment to future electric and autonomous flight solutions.

See a mistake? Contact us.

Despite fourth-quarter and full-year earnings results that saw Boeing (NYSE:BA) register three consecutive years of losses, and significant production delays with its 787 program, CEO David Calhoun remained optimistic about his company’s ability to turn things around.

He said 2021 “was a rebuilding year” for the company in a statement Wednesday ahead of the company earnings call. “Across the enterprise, we remain focused on safety and quality as we deliver for our customers and invest in our people and in our sustainable future.”