Boeing narrowed its fourth-quarter loss to 30 million US dollars (£23.65 million) and bumped up production of its best-selling plane just before one of them suffered a blowout of a side panel during a flight – an accident that has raised new safety concerns about the aircraft manufacturer.
The loss reported on Wednesday was smaller than Wall Street expected and revenue beat forecasts.
But the company declined to offer its own forecast of 2024 results — an indication of the uncertainty swirling around Boeing since a 737 Max 9 operated by Alaska Airlines suffered a mid-flight blowout of a door plug on January 5.
Chief executive David Calhoun said the company’s focus is on improving quality and repeated a promise to help airline customers and “work transparently” with the Federal Aviation Administration, which is investigating quality-control issues at Boeing and its suppliers.
The results were an improvement from a loss of 663 million US dollars (£522.67 million) in the fourth quarter a year earlier.
Boeing said that excluding one-time items, it lost 47 cents (37p) per share.
Analysts surveyed by FactSet had expected an adjusted loss of 78 cents (61p) per share.
Revenue rose 10% to 22.02 billion US dollars (£17.36 billion), topping analysts’ prediction of 21.18 billion dollars (£16.70 billion).
Boeing said that at the end of last year, it hit its target of producing 38 737s a month.