Summary
The Boeing Company's 2013 10-K filing reveals a strong year with total revenues reaching $86.6 billion, a 6% increase from the prior year, driven primarily by robust performance in the Commercial Airplanes segment. This segment saw a 8% revenue increase due to higher new airplane deliveries. The Defense, Space & Security (BDS) segment also experienced revenue growth, albeit at a slower pace. Net earnings rose to $4.6 billion from $3.9 billion in 2012, indicating improved profitability. The company's backlog remains substantial, standing at $422.7 billion at year-end, providing a solid foundation for future growth. Significant investments in research and development, totaling $3.1 billion, underscore Boeing's commitment to innovation and future product development, particularly in new aircraft derivatives like the 737 MAX and 777X. Despite the positive financial performance, Boeing faces several risks. These include intense competition in both commercial and defense markets, dependence on U.S. government defense spending which is subject to budget uncertainties and sequestration, and potential production challenges and cost overruns in new aircraft programs like the 787. The company also manages significant pension obligations and is subject to environmental regulations and potential litigation. Overall, the filing paints a picture of a financially sound company with strong market positions, but one that must navigate a complex and competitive global landscape with inherent operational and economic risks.
Financial Highlights
55 data points| Revenue | $86.62B |
| Cost of Revenue | $73.27B |
| Gross Profit | $13.36B |
| R&D Expenses | $3.07B |
| Operating Income | $6.56B |
| Net Income | $4.58B |
| EPS (Basic) | $6.03 |
| EPS (Diluted) | $5.96 |
| Shares Outstanding (Basic) | 760.80M |
| Shares Outstanding (Diluted) | 767.60M |
Key Highlights
- 1Total revenues for 2013 reached $86.6 billion, up 6% from 2012, driven by strong performance in Commercial Airplanes.
- 2Net earnings increased to $4.6 billion in 2013, up from $3.9 billion in 2012.
- 3Total contractual backlog stood at a robust $422.7 billion at the end of 2013.
- 4Research and development expenses were $3.1 billion in 2013, reflecting continued investment in innovation.
- 5The Commercial Airplanes segment reported increased deliveries and a higher operating margin of 10.9%.
- 6The Defense, Space & Security (BDS) segment saw revenue growth, though challenges exist due to U.S. defense spending uncertainties.
- 7Boeing continues to face intense competition in both commercial and defense sectors from global players.