Boeing $BA ( ▲ 0.92% ) delivered another step forward in its recovery, posting its second straight quarter of positive free cash flow and topping revenue estimates. The results suggest the plane maker’s turnaround is gaining traction after a turbulent stretch.
Free cash flow finally turning the corner
Boeing generated $375 million in free cash flow for the quarter, beating expectations and marking back-to-back positive quarters after six straight periods of cash burn. That shift is crucial for a company that has spent years working through production issues and delivery slowdowns.
Adjusted earnings came in at $9.92 per share, but that figure was heavily influenced by a one-time gain tied to the sale of its digital aviation assets. Stripping that out, the headline profit number is less comparable to Wall Street forecasts.
Deliveries and orders fuel the rebound
Operationally, Boeing showed real momentum. Commercial aircraft deliveries jumped 72% last year, and the company racked up nearly 1,200 new plane orders, its strongest performance versus Airbus in years. Fourth-quarter revenue surged 57% to $23.95 billion, coming in well above expectations.
The company’s total order backlog also expanded to $682 billion, giving Boeing years of production visibility as airlines continue refreshing fleets.
Production limits start to ease
Adding to the positive tone, US regulators approved an increase in Boeing’s monthly 737 production cap, allowing the company to gradually lift output. Higher production rates, combined with stronger demand, could help Boeing $BA continue improving cash flow and profitability if execution stays on track.