Boeing’s Cash Flow Beats Estimates With 787 Dreamliner Comeback

Boeing Co.’s cash surged last quarter as it restarted 787 Dreamliner deliveries after a lengthy halt, giving investors a glimpse of the bounty that awaits as the manufacturer clears hundreds of undelivered aircraft from its storage lots.

The planemaker reported $2.9 billion of free cash flow for the third quarter, outpacing the $1.02 billion average of estimates compiled by Bloomberg. It’s only the second time Boeing has generated positive cash since Chief Executive Officer Dave Calhoun took the top job in early 2020.

The performance overshadowed more bad news from the Arlington, Virginia-based company’s defense division, which racked up $2.8 billion in losses due to cost overruns on its KC-46 aerial tanker, Air Force One and other military contracts.

Boeing’s adjusted loss was $6.18 a share in the period, the company said Wednesday in a statement. Analysts had expected slightly positive earnings, marking the company’s fifth consecutive earnings miss. Revenue of $16 billion also fell short of the $17.7 billion expected by Wall Street.