Boeing Q4 FY12/24 Earnings Review
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Don’t Bother Reading The Numbers
by Alex King, CEO, Cestrian Capital Research, Inc
Boeing isn’t so much a company as a part of the plumbing underpinning the US government and its economic influence. The same can be said of Airbus and the EU by the way. I don’t know what it is about civilian aerospace that makes it so hard for anyone involved to make any kind of sustainable cashflows, but there we go.
The company raised a wall of cash via an equity placement during the quarter, which is just as well, because its cashflow performance is so bad that even Boeing lenders would be getting a little concerned I suspect.
The numbers are, in short, awful, and going in the wrong direction. That’s irrelevant as regards the stock. The stock looks like it may have put in a local low and be climbing.
Let’s get to it.
Numbers, valuation and stock chart follow.