-- Boeing's (BA) first-quarter loss unexpectedly narrowed as commercial aircraft deliveries rose, while the plane maker reported a smaller cash burn year over year.
For the March quarter, the company logged a core loss of $0.20 per share, compared with a $0.49 loss a year earlier and the FactSet-polled consensus that called for a loss of $0.61. Revenue jumped 14% to $22.22 billion, while analysts expected $21.3 billion.
Boeing's commercial airplane revenue grew 13% to $9.2 billion as first-quarter deliveries increased 10% to 143 planes.
The company reported a negative free cash flow of $1.45 billion on an adjusted basis, compared with a year-ago cash burn of $2.29 billion.
"We're building on our momentum with a strong start to the year and growing record-breaking backlog across our business, while supporting our customers with inspiring missions like Artemis II," Chief Executive Kelly Ortberg said in a statement.
Ortberg was referring to NASA's mission to the moon that was completed earlier this month. Boeing built the core stage of the space launch system rocket.
Shares of Boeing were up 3% intraday Wednesday. The stock has risen 4.3% so far this year.
Revenue in the defense, space and security division surged 21% to $7.6 billion, while the global services segment delivered 6% growth to $5.37 billion.
Boeing said it expects to receive certification of the 737-7 and 737-10 models in 2026, with first deliveries starting next year. The 737 program currently produces 42 planes per month.
Company officials said at its last quarterly earnings call that Boeing targeted ramping up 737 production to 47 aircraft in 2026.
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