Boeing Q2 Revenue Beats Forecasts as Jet Deliveries Lift Cash Flow

Boeing has reported second-quarter results that exceeded revenue and cash flow expectations as rising jet deliveries helped the aircraft manufacturer return to positive free cash flow, continuing CEO Kelly Ortberg's turnaround efforts, Pras Subramanian reported for Yahoo Finance.

Boeing credited stronger commercial aircraft deliveries and favorable working capital timing for the improvement. [Photo: The Boeing Company Facebook]

Boeing posted second-quarter revenue of $24.6 billion, up 8% from a year earlier and above Bloomberg's consensus estimate of $24.26 billion.

However, its adjusted, or core, loss per share came in at $0.76, wider than the expected loss of $0.28 per share.

The company generated adjusted free cash flow of $631 million, compared with analysts' expectations for a negative $331.4 million and an adjusted cash burn of $200 million in the same period last year.

Operating cash flow reached $1.4 billion, nearly double the Bloomberg consensus estimate of $687.7 million and significantly higher than the $227 million reported a year earlier.

Boeing credited stronger commercial aircraft deliveries and favorable working capital timing for the improvement.

Boeing shares rose nearly 2% in premarket trading.

"While two quarters don't make a year, if we work together and stay focused on safety, quality, and on-time performance, we'll improve our competitiveness and set ourselves up for a strong second half," Ortberg said in a memo to employees.