The Boeing Company (NYSE: BA) reported Q4 2023 financial results before the market open in the US on Wednesday.

World’s largest aircraft manufacturer’s revenue reached $22.018 billion for the last three months of 2023, above analyst estimate of $21.184 billion. Revenue rose by 10% year-over-year.

Boeing reported a loss per share of -$0.47, which was less than -$0.777 loss per share expected.

Company overview

• Founded: 1916
• Headquarters: Arlington County, Virginia, United States
• Number of employees: 156,000 (2022)
• Industry: Aerospace
• Key people: Dave Calhoun (President and CEO), Larry Kellner (Chairman)

CEO commentary

“While we report our financial results today, our full focus is on taking comprehensive actions to strengthen quality at Boeing, including listening to input from our 737 employees that do this work every day,” Dave Calhoun, CEO of Boeing said in a statement.

“As we move forward, we will support our customers, work transparently with our regulator and ensure we complete all actions to earn the confidence of our stakeholders,” Calhoun looked ahead as company battles recent 737 aircraft safety issues and tries to rebuild its reputation.

Stock reaction

The stock took off on Wednesday after dropping to its lowest level since 17/11/2023 the day before.

Shares were up 5.29%, trading at $211.04 a share.

Stock performance

• 5 day: -1.44%
• 1 month: -13.48%
• 3 months: +11.44%
• Year-to-date: -19.04%
• 1 year: -1.73%

Boeing price targets

• Bank of America: $225
• Susquehanna: $279
• Wells Fargo & Company: $225
• UBS Group: $315
• Barclays: $235
• Stifel Nicolaus: $265
• Royal Bank of Canada: $275
• Deutsche Bank: $270
• Morgan Stanley: $220
• Citigroup: $271
• TD Cowen: $260
• Jefferies Financial Group: $275
• JP Morgan Chase & Co.: $245

The Boeing Company is the 104th largest company in the world with a market cap of $127.67 billion, according to CompaniesMarketCap.

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Sources: The Boeing Company, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

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