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波音公司The Boeing Company(BA)2025年第四季度及全年财务业绩演示报告「NYSE」(英文版)(14页).pdf

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1、Copyright 2026 Boeing.All rights reserved.Fourth Quarter 2025 Earnings ReviewKelly OrtbergPresident and Chief Executive OfficerJay MalaveExecutive Vice President and Chief Financial OfficerJanuary 27,2026Copyright 2026 Boeing.All rights reserved.Caution Concerning Forward-Looking StatementsCertain s

2、tatements made today constitute“forward-looking statements”within the meaning of the Private Securities Litigation Reform Act of 1995.Words such as“may,”“will,”“should,”“expects,”“intends,”“projects,”“plans,”“believes,”“estimates,”“targets,”“anticipates,”and other similar words or expressions,or the

3、 negative thereof,generally can be used to help identify these forward-looking statements.Examples of forward-looking statements include statements relating to our future financial condition and operating results,industry projections and outlooks,plans,objectives and goals,as well as any other state

4、ment that does not directly relate to any historical or current fact.Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made,but that may not prove to be accurate.These statements are not guarantees and are subject to risks,uncertainties,and ch

5、anges in circumstances that are difficult to predict.Many factors could cause actual results to differ materially and adversely from these forward-looking statements.Among these factors are risks related to:(1)general conditions in the economy and our industry,including those due to regulatory chang

6、es;(2)our reliance on our commercial airline customers;(3)the overall health of our aircraft production system,production quality issues,commercial airplane production rates,our ability to successfully develop and certify new aircraft or new derivative aircraft,and the ability of our aircraft to mee

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1. **业绩改善**:2025年Q4营收239.48亿美元(同比+57%),GAAP运营利润87.77亿美元(扭亏为盈),核心EPS 9.92美元;全年营收894.63亿美元,GAAP EPS 2.48美元(同比+20.84美元)。 2. **业务亮点**:商用飞机(BCA)Q4营收114亿美元,运营利润率-5.6%;防务与安全(BDS)营收74亿美元,利润率-6.8%;全球服务(BGS)因出售数字航空解决方案(DAS)实现96亿美元收益,运营利润率202.4%。 3. **生产进展**:737月产量提至42架,787向8架/月过渡;获FAA批准737-10和777-9认证测试;积压订单达5670亿美元。 4. **现金流**:Q4自由现金流4亿美元(非GAAP),全年预计1亿-3亿美元;现金及证券541亿美元,债务541亿美元。
**业绩翻倍?** (吸引投资者关注核心盈利增长,突出2025年与2024年的显著对比) **风险何在?** (针对风险规避型受众,强调报告中列出的25项潜在风险因素) **订单创新高?** (聚焦业务亮点,吸引对行业动态感兴趣的读者,如567亿美元订单记录)
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