Boeing Reports Q4 Profit of $8.22 Billion Amid Unit Sale and Increased Deliveries
Boeing reported a fourth-quarter profit of $8.22 billion, bolstered by the $10.6 billion sale of Jeppesen and increased deliveries of the 737 MAX and 787 jetliners. Despite a $565 million charge related to the KC-46 program and losses in both its commercial and defense units, the company delivered 600 aircraft in 2022, its highest output since 2018, with quarterly revenue rising 57% to $23.95 billion.
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Boeing reported a fourth-quarter profit of $8.22 billion, or $10.23 per share, driven by the $10.6 billion sale of Jeppesen to Thoma Bravo and rising production of the 737 MAX and 787 jetliners. The company also faced a $565 million charge related to the KC-46 program and reported a quarterly loss of $632 million in its commercial airline unit and $507 million in its defense unit.
In total, Boeing delivered 600 aircraft in 2022, its highest since 2018. Despite generating $375 million in cash in the fourth quarter, Boeing burned $1.9 billion over the year due to certification delays on key aircraft programs. Revenue for the quarter rose 57% to $23.95 billion, exceeding expectations.
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