The Boeing (BA) 10-K Summary — Year Ended Dec 31, 2024
The Boeing Company reported a significant net loss and negative operating cash flow for the year, driven by production disruptions and lower deliveries in its commercial airplanes business. The company faces ongoing challenges from safety-related actions, supply chain constraints, and a labor work stoppage.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
The Boeing Company reported a significant net loss and negative operating cash flow for the year, driven by production disruptions and lower deliveries in its commercial airplanes business. The company faces ongoing challenges from safety-related actions, supply chain constraints, and a labor work stoppage.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$66.5B
Revenue reported for the fiscal year.
Operating income
-$10.7B
Income from operations reported for the year.
Net income
-$11.8B
Net income reported for the year.
Operating cash flow
-$12.1B
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% |
| Dec 31, 2024 | $66.5B | -14.5% |
Business overview
The company operates in the commercial airplanes and defense, space, and security segments. Its commercial airplanes business has been affected by production slowdowns and quality improvements following a January 2024 accident.
Financial performance
Revenue declined from the prior year, while operating and net losses widened substantially. Operating cash flow turned negative, reflecting higher cash outflows from the commercial airplanes business.
Material risks
Material risks include the ongoing safety and quality improvement actions following the Alaska Airlines accident, supply chain constraints, and the IAM 751 work stoppage. Additionally, the company recognized significant reach-forward losses on the 777X and 767 programs.
Liquidity and capital
Operating cash flows were used primarily by the commercial airplanes business due to slowed production and lower deliveries. The company raised financing to offset the cash outflows, resulting in a net increase in cash.
What to watch
Monitor the recovery of commercial airplane deliveries and production rates following the resolution of the IAM 751 work stoppage and ongoing quality improvements.