Boeing’s CST-100 Starliner spacecraft approaches the Worldwide Area Station.
Picture credit score: Bob Hines/NASA
Boeing revealed on Thursday (July 27) that the corporate has misplaced a further quarter billion {dollars} on its troubled CST-100 Starliner program, elevating whole losses on the crew transport to almost $1.5 billion.
Boeing reported a $257 million loss on Starliner in its second quarter earnings report. The spacecraft is designed to hold astronauts to the Worldwide Area Station (ISS) for NASA on a industrial foundation. Boeing mentioned the loss was “primarily as a result of impacts of the beforehand introduced launch delay.”
The most recent cost introduced whole losses on the troubled Starliner program to program to $1.47 billion since 2016, in line with Boeing’s incomes assertion, annual studies, and filings with the Securities and Alternate Fee (SEC).
NASA has awarded Boeing with firm-fixed contracts price $4.75 billion since 2011 to develop Starliner to hold astronauts to the area station below the area company’s Business Crew Program. The spacecraft has been delayed for years by a sequence of technical points.
Final month, Boeing and NASA decided to indefinitely postpone a crewed flight take a look at deliberate for July 2023 as a result of wiring and parachute points. A profitable crew flight is the ultimate hurdle to approving Starliner for industrial flights.
Boeing has performed two uncrewed flight checks. The primary flight failed to succeed in ISS in December 2019 as a result of software program and communications points; the spacecraft flew a two-day orbital mission as a substitute. A second Starliner spacecraft flew a profitable six-day mission to the station in Could 2022.
Rival SpaceX has been carrying all the load for transporting crews for NASA to ISS. The Elon Musk-led firm is ready to launch the seventh operational Crew Dragon mission to the orbiting facility on August 17.
Second quarter outcomes
Whereas engineers work out the bugs in Starliner, let’s check out the second-quarter outcomes that Boeing reported on Thursday.
The Boeing Firm
Abstract Monetary Outcomes
Second Quarter 2023
| Second Quarter | First Half | ||||||||||
| ({Dollars} in hundreds of thousands, besides per share information) | 2023 | 2022 | Change | 2023 | 2022 | Change | |||||
| Revenues | $19,751 | $16,681 | 18% | $37,672 | $30,672 | 23% | |||||
| GAAP | |||||||||||
| (Loss)/earnings from operations | ($99) | $780 | NM | ($248) | ($382) | NM | |||||
| Working margins | (0.5) | % | 4.7 | % | NM | (0.7) | % | (1.2) | % | NM | |
| Web (loss)/earnings | ($149) | $160 | NM | ($574) | ($1,082) | NM | |||||
| (Loss)/earnings per share | ($0.25) | $0.32 | NM | ($0.93) | ($1.73) | NM | |||||
| Working money movement | $2,875 | $81 | NM | $2,557 | ($3,135) | NM | |||||
| Non-GAAP* | |||||||||||
| Core working (loss)/earnings | ($390) | $496 | NM | ($830) | ($949) | NM | |||||
| Core working margins | (2.0) | % | 3.0 | % | NM | (2.2) | % | (3.1) | % | NM | |
| Core loss per share | ($0.82) | ($0.37) | NM | ($2.08) | ($3.11) | NM | |||||
Boeing reported second-quarter income of $19.8 billion, a rise of 18 p.c over the identical interval in 2022. The corporate’s income was $37.7 billion for the primary six months of 2023 for a year-over-year improve of $6 billion or 23 p.c.
Boeing’s second-quarter web loss totaled $149 billion, a discount from the $160 billion the corporate misplaced throughout the second quarter of final 12 months. The corporate’s first-half loss fell from $1.1 billion in 2022 to $574 million this 12 months.
Boeing generated an working money movement of $2.9 billion and a free money movement of $2.6 billion (non-GAAP).
Boeing Protection, Area & Safety
Second Quarter 2023
| Second Quarter | First Half | ||||||
| ({Dollars} in Thousands and thousands) | 2023 | 2022 | Change | 2023 | 2022 | Change | |
| Revenues | $6,167 | $6,191 | — % | $12,706 | $11,674 | 9 % | |
| (Loss)/earnings from operations | ($527) | $71 | NM | ($739) | ($858) | NM | |
| Working margins | (8.5)% | % | 1.1% | NM | (5.8)% | (7.3)% | NM |
Protection, Area & Safety second-quarter income was $6.2 billion, with a loss from operations of $527 million and a destructive working margin.
“Second quarter working margin was (8.5) p.c, primarily pushed by losses on sure fixed-price improvement applications, in addition to continued operational impacts of labor instability and provide chain disruption on different applications,” the corporate mentioned in its announcement.
Boeing mentioned it recorded a $189 million loss on its T-7A supersonic jet coach program largely as a result of increased estimated prices on manufacturing contracts. Boeing mentioned it misplaced $68.5 million on its MQ-25 Stingray carrier-based aerial refueling program “program additionally recorded a $68 million loss “primarily as a result of schedule delays on the Engineering and Manufacturing Growth contract.”
![[VIDEO] NASA Cuts ISS Livestream After Mysterious UFO Flyby](https://www.latest-ufo-sightings.net/wp-content/uploads/2025/11/UFO-nasa-2025.png){kind=small}
