- Continue to engage global regulators and customers on safe return to service of the 737 MAX
- Recorded charge and increased costs related to the 737 MAX, as previously announced
- Revenue of $15.8 billion reflecting 737 MAX impacts and higher defense and services volume
- Loss of ($5.21) per share (GAAP) and core (non-GAAP)* loss of ($5.82) per share
- Operating cash flow of ($0.6) billion; paid $1.2 billion of dividends
- Total backlog of $474 billion, including more than 5,500 commercial airplanes
- Cash and marketable securities of $9.6 billion provide strong liquidity
- Previously issued 2019 guidance does not reflect 737 MAX impacts; new guidance to be issued at a future date
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Table 1. Summary Financial Results | Second Quarter |
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| First Half |
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(Dollars in Millions, except per share data) | 2019 |
| 2018 |
| Change |
| 2019 |
| 2018 |
| Change |
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Revenues | $15,751 |
| $24,258 |
| (35)% |
| $38,668 |
| $47,640 |
| (19)% |
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| GAAP |
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| (Loss)/Earnings From Operations | ($3,380) |
| $2,710 |
| NM |
| ($1,030) |
| $5,585 |
| NM |
| Operating Margin | (21.5)% |
| 11.2% |
| NM |
| (2.7)% |
| 11.7% |
| NM |
| Net (Loss)/Earnings | ($2,942) |
| $2,196 |
| NM |
| ($793) |
| $4,673 |
| NM |
| (Loss)/Earnings Per Share | ($5.21) |
| $3.73 |
| NM |
| ($1.40) |
| $7.88 |
| NM |
| Operating Cash Flow | ($590) |
| $4,680 |
| NM |
| $2,198 |
| $7,816 |
| NM |
| Non-GAAP* |
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| Core Operating (Loss)/Earnings | ($3,745) |
| $2,393 |
| NM |
| ($1,759) |
| $4,903 |
| NM |
| Core Operating Margin | (23.8)% |
| 9.9% |
| NM |
| (4.5)% |
| 10.3% |
| NM |
| Core (Loss)/Earnings Per Share | ($5.82) |
| $3.33 |
| NM |
| ($2.60) |
| $6.97 |
| NM |
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| *Non-GAAP measure; complete definitions of Boeing's non-GAAP measures are on page 6, "Non-GAAP Measures Disclosures." |
