The Boeing Company is showing signs of recovering from financial turbulence, announcing a 91% reduction in net loss to US$31 million (A$48.4 million) for the first quarter (Q1) of the 2025 financial year.
The result, which compared with a loss of $355 million in the previous corresponding period (pcp), was struck on an 18% increase in revenue to $19.496 billion in the three months to 31 March.
The 108-year-old American aerospace and defence company said the core loss per share narrowed to 49 cents from $1.13 in the pcp.
Boeing said the results primarily reflected improvements in operational performance and commercial delivery volumes.
“Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality,” Boeing President and Chief Executive Officer Kelly Ortberg said in an earnings release.
"We continue to execute our plan, are seeing early positive results and remain committed to making the fundamental changes needed to fully recover the company's performance while navigating the current environment."
The company said revenue from its commercial airplanes business surged 75% to $8.1 billion in Q1 as deliveries rose 57% to 130.
It said 737 production was planned to increase this year to 38 per month, 787 production was expected to rise from five to seven per month this year, and the first delivery of the 777-9 was expected in 2026 following expanded 777X program certification flight testing.
Although the United States trade dispute with China led to the recent return of two Boeing planes, Ortberg said the company had avoided broader damage from tariffs and could redirect jets to other airlines.
"I feel really good about our overall plan for the year, even though I expect the China situation will take away some of the headroom we've built with our strong first quarter deliveries," Ortberg was reported to have told analysts.
Analysts were expecting the company to report an adjusted loss of $1.29 per share, compared with 49 cents, Reuters reported using data compiled by LSEG (London Stock Exchange Group).
Boeing (NYSE: BA) shares finished $9.83 (6.05%) higher at $172.37 on Wednesday, capitalising the company at $129.69 billion.
