CLAIM #8998 · The Boeing Company (BA) · 2023Q1 earnings call · Apr 25, 2023 · due Dec 31, 2023
“Demand is as robust, if not more than what we had thought back in November, and so we remain confident.”
David Calhoun · CEO
In context
“e EPS will be roughly in line with 1Q '23 performance absent the tanker charge, as the 737 delivery impacts would be largely offset by higher wide-body deliveries. We expect free cash flow to be breakeven to slightly negative as we work through the 37 recovery. All things considered, we feel good about what's in front of us. And we remain on track to achieve our long-term guidance, including $10 billion of free cash flow in the '25, '26 time frame. With that, I'll turn it over to Dave for any closing comments. David Calhoun: Yes, not much to add. Just a reminder that in November, when we did finally set out guidance for all of our investors, we described an environment that would continue to be strained through 2023 and through most of 2024. We still see the world exactly that way. Demand is as robust, if not more than what we had thought back in November, and so we remain confident. So thanks for your time, and let's take some questions. Operator: [Operator Instructions] And our first question will come from the line of Myles Walton from Wolfe Research. Myles Walton: Dave, the quality slip or escape at Spirit, it sounds like it's been going on for several years actually. So I think the natural question we've been getting is, why did it take so long to discover? And how should we be comfortable that things like this won't continue to pop up, particularly with the FAA's sort of renewed zero tolerance for noncompliant deliveries? David Calhoun: Yes, Myles, I appreciate the question. This particular defect, I happen to take a look at it, by the way, along with the rest of my Board. We happen to have our shareowner meeting shortly after the issue came to our attenti”
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SEC filings for BA ↗ · Claim quote is verbatim from the 2023Q1 earnings call.