3Q23 Presentation
3Q23 Presentation
PERFORMANCE REVIEW
David Calhoun
President and Chief Executive Officer
Brian West
Executive Vice President and Chief Financial Officer
This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,”
“intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions generally identify these forward-looking statements. Examples of forward-
looking statements include statements relating to our future financial condition and operating results, as well as any other statement that does not directly relate to any historical or
current fact. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate. These
statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ
materially and adversely from these forward-looking statements. Among these factors are risks related to: (1) general conditions in the economy and our industry, including those
due to regulatory changes; (2) our reliance on our commercial airline customers; (3) the overall health of our aircraft production system, planned commercial aircraft production rate
changes, our ability to successfully develop and certify new aircraft or new derivative aircraft, and the ability of our aircraft to meet stringent performance and reliability standards;
(4) changing budget and appropriation levels and acquisition priorities of the U.S. government, as well as the potential impact of a government shutdown; (5) our dependence on
our subcontractors and suppliers, as well as the availability of highly skilled labor and raw materials; (6) competition within our markets; (7) our non-U.S. operations and sales to
non-U.S. customers; (8) changes in accounting estimates; (9) realizing the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures; (10) our
dependence on U.S. government contracts; (11) our reliance on fixed-price contracts; (12) our reliance on cost-type contracts; (13) contracts that include in-orbit incentive
payments; (14) unauthorized access to our, our customers’ and/or our suppliers' information and systems; (15) potential business disruptions, including threats to physical security
or our information technology systems, extreme weather (including effects of climate change) or other acts of nature, and pandemics or other public health crises; (16) potential
adverse developments in new or pending litigation and/or government inquiries or investigations; (17) potential environmental liabilities; (18) effects of climate change and legal,
regulatory or market responses to such change; (19) changes in our ability to obtain debt financing on commercially reasonable terms, at competitive rates and in sufficient
amounts; (20) substantial pension and other postretirement benefit obligations; (21) the adequacy of our insurance coverage; (22) customer and aircraft concentration in our
customer financing portfolio; and (23) work stoppages or other labor disruptions.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and we assume no
obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Q3 2023 Q3 2022
$52.3 $52.3
$13.8 $13.4
Commercial Deliveries
737 Deliveries: 375 - 400 (vs. 400 - 450)
787 Deliveries: 70 - 80
Expense items
Operating CapEx Free Cash R&D: ~$3.4B (vs. ~$3.2B)
Cash Flow* Unallocated, Eliminations and Other
(Loss)/Earnings: ~($1.6B)
Third Quarter
In millions 2023 2022
Operating Cash Flow $22 $3,190
Less: Additions to Property,
($332) ($284)
Plant & Equipment
Free Cash Flow (non-GAAP) ($310) $2,906
2023 Estimate
Operating Cash Flow ~$4.5B - $6.5B
Less: Additions to Property,
~($1.5B)
Plant & Equipment
Free Cash Flow (non-GAAP) ~$3B - $5B