Boeing, one of the world’s leading aerospace companies, ended the fourth quarter of 2024 with significant financial losses, driven by operational disruptions, workforce reductions, and defense program charges. Despite these challenges, the company managed to secure strong commercial orders and maintain a substantial backlog, indicating resilience and future growth potential.
This report provides a detailed look at Boeing’s financial performance, aircraft deliveries, defense contracts, and strategic plans as the company navigates its path to recovery.
Boeing’s Financial Performance in Q4 2024
Boeing reported $15.2 billion in revenue for Q4 2024, but its bottom line was impacted by multiple setbacks, leading to:
- GAAP loss per share: ($5.46)
- Core loss per share: ($5.90)
- Negative operating cash flow: ($3.5 billion)
Despite these losses, Boeing maintained $26.3 billion in liquidity, ensuring financial stability. The company delivered 348 commercial airplanes in 2024, with 279 net new orders, pushing its total backlog to $521 billion—covering more than 5,500 aircraft.
CEO’s Statement on Boeing’s Future Strategy
Boeing’s President and CEO, Kelly Ortberg, acknowledged the company’s current challenges but emphasized efforts to stabilize operations, improve safety measures, and rebuild stakeholder trust. The leadership team is implementing fundamental changes to enhance performance and ensure long-term growth.
Drop in Aircraft Deliveries & Production Issues
Boeing’s Commercial Airplanes division faced major setbacks in Q4 2024:
- Revenue: $4.8 billion
- Operating margin: -43.9% (significant loss)
The financial losses were largely due to:
- IAM workforce strike, which led to $1.1 billion in pre-tax charges.
- Delays in 777X and 767 programs.
- Lower aircraft deliveries due to production disruptions.
Boeing 737, 777X, and 787 Updates
- 737 Program: Production restarted with a gradual increase strategy.
- 777X Program: FAA certification progressed in January 2025, with the first 777-9 delivery still scheduled for 2026.
- 787 Program: Achieved its 5-aircraft-per-month production target and announced expansion plans in South Carolina.
Major Commercial Orders in Q4 2024
Despite financial struggles, Boeing secured 204 net orders, including:
- 100 Boeing 737-10s for Pegasus Airlines
- 30 Boeing 787-9s for flydubai
The division delivered 57 aircraft in Q4, contributing to a $435 billion commercial backlog of over 5,500 aircraft.
Boeing Defense, Space & Security: Program Challenges & Contracts
Boeing’s Defense, Space & Security (BDS) division also faced financial difficulties:
- Revenue: $5.4 billion
- Operating margin: -41.9% (deep losses)
- $1.7 billion in pre-tax charges affecting key defense projects.
Defense Programs Impacted by Cost Overruns
- KC-46A Tanker
- T-7A Red Hawk
- Commercial Crew (NASA contracts)
- VC-25B (Air Force One replacement program)
- MQ-25 (Autonomous refueling drone program)
U.S. Air Force and Navy Contracts in Q4 2024
Despite financial pressures, Boeing secured significant defense orders:
- 15 KC-46A tankers for the U.S. Air Force
- 7 P-8A Poseidon maritime patrol aircraft for the U.S. Navy
- Final development aircraft for the T-7A Red Hawk delivered
Boeing’s defense backlog now stands at $64 billion, with international orders comprising 29% of total defense sales.
Boeing Global Services: Strong Performance in Q4 2024
Unlike its commercial and defense segments, Boeing’s Global Services division delivered strong financial results:
- Revenue: $5.1 billion
- Operating margin: 19.5% (profitability driven by increased service demand)
Key Military Service Contracts
- C-17 sustainment contract with the U.S. Air Force
- F-15 Super Interceptor upgrade for Japan’s Air Force
Boeing’s focus on military services and aftermarket support helped boost its revenue, compensating for losses in other divisions.
Boeing’s Path to Recovery
Boeing’s Q4 2024 results highlight major financial struggles, but strong aircraft orders and defense contracts indicate long-term resilience.
Key takeaways from Boeing’s financial performance:
✅ Massive commercial backlog of 5,500+ aircraft ($521 billion).
✅ 204 new commercial orders, including major deals with Pegasus Airlines and flydubai.
✅ Defense contracts secured with the U.S. Air Force & Navy.
⚠ Production issues impacted deliveries, leading to billion-dollar losses.
⚠ Operational disruptions and workforce strikes affected manufacturing efficiency.
Looking ahead, Boeing aims to stabilize production, enhance safety measures, and rebuild financial strength as it navigates global aviation demand and supply chain challenges.
