An 8% decline in commercial aircraft deliveries lowered overall Boeing revenue by the same percentage in the second quarter, but the company still recorded nearly $5 billion in operating cash flow.
The first of several completed 737 Max 8 jets was handed over to a customer in the second quarter. Boeing Commercial Airplanes (BCA) delivered a total of 183 aircraft in the three-month period, compared with 199 in 2016's second quarter.
BCA's revenue fell 10% to $15.7 billion. But operating margin swung from a negative figure in the second quarter last year to a positive one, of 10%, in 2017. Earnings from operations totalled $1.57 billion.
Overall Boeing revenues amounted to $22.7 billion in the second quarter, a $2 billion reduction from the same period in 2016.
BCA deliveries dipped as the 737 Max transitions from development into series production while Boeing manages production-rate declines on the 777 and 747-8 programmes. The 787 production rate remains steady at about 12 per month.
As deliveries decline, Boeing has been aggressively cutting costs, slashing thousands of jobs and moving positions to lower-cost facilities.
"Our teams are delivering better performance in every segment of the business, which is reflected in our strong second-quarter results and improved 2017 outlook," states Boeing chief executive Dennis Muilenburg.
Operating cash flow in the second quarter totalled $4.95 billion.
Source: Cirium Dashboard
