The Boeing (BA) 10-K Summary — Year Ended Dec 31, 2023
The Boeing Company reported revenue growth and a narrower net loss compared to the prior year. Operating cash flow improved, but the company continued to report an operating loss and a net loss.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
The Boeing Company reported revenue growth and a narrower net loss compared to the prior year. Operating cash flow improved, but the company continued to report an operating loss and a net loss.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$77.8B
Revenue reported for the fiscal year.
Operating income
-$773M
Income from operations reported for the year.
Net income
-$2.2B
Net income reported for the year.
Operating cash flow
$6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $62.3B | n/a |
| Dec 31, 2022 | $66.6B | +6.9% |
| Dec 31, 2023 | $77.8B | +16.8% |
Business overview
Boeing operates as an aerospace company, primarily engaged in commercial airplanes, defense products, and global services. Its business segments include Commercial Airplanes (BCA) and Global Services (BGS).
Financial performance
Revenue increased compared to the prior year, driven by higher revenues at both the commercial airplanes and global services segments. The company's net loss narrowed year over year, and operating cash flow improved, reflecting higher advances and progress billings and lower customer payments.
Material risks
Material risks include ongoing reach-forward losses on certain defense programs and inventory build-up. The company also faces potential adverse effects from changes in accrued liabilities and other program cost exposures.
Liquidity and capital
Net cash provided by operating activities improved, while financing activities were a net use of cash. The company's cash and cash equivalents decreased from the prior year.
What to watch
Monitor changes in inventories and accrued liabilities, as these had significant year-over-year movements in cash flow.