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The Boeing Company (NYSE: BA ) on Wednesday announced its financial results for the fourth quarter of 2022, reporting a narrower net loss, on an adjusted basis. Revenue increased by 35%.
Core earnings, adjusted for special items, narrowed sharply to $1.75 per share in the December quarter from $7.69 per share in the year-ago quarter. On an unadjusted basis, the net loss was $663 million or $1.06 per share, compared to a loss of $4.16 billion or $7.02 per share in the fourth quarter of 2021.
The following benefited from a 35% increase in profits to $19.9 billion. During the quarter, the company generated $3.5 billion in operating cash flow and $3.1 billion in free cash flow.
“Demand in our portfolio is strong, and we remain focused on driving stability in our operations and in our supply chain to meet our commitments in 2023 and beyond. We invest in our business, innovate and prioritize safety, quality, and transparency in everything we do ,” said Boeing CEO Dave Calhoun.
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