Boeing had a poor second quarter, with revenues falling to $16.866 billion versus $19.751 billion last year, a drop of 15%. The company reported a net loss in the quarter of $1.439 billion, which compared with a net loss of $149 million in 2023. The core loss per share was $2.90 in 2024 versus a $0.82 loss in 2023. Free cash flow during the quarter was a negative 4,327 billion, versus a positive $2.579 billion in 2023.  Results were well below Wall St. estimates across the board.
Combined with a first quarter loss, results for the first half showed a net loss of $1,794 billion in 2024 versus a loss of $574 million in 2023, on a revenue decline to $33.435 billion from $37.672 billion in 2023. The first half loss per share was $4.04 in 2024, versus $2.08 in 2023. Free cash flow for the first half of 2024 was an astonishing negative $8.256 billion, against positive cash flow of $1.793 billion in 2023, a difference of $10.049 billion. Boeing had arranged a new line of credit for $10 billion in 2023, which it has now fully taken down, increasing consolidated debt to $57.9 billion in 2024, up by the $10 billion drawdown from 2023 levels.
