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The Boeing Company
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About The Boeing Company

Boeing is the world's largest aerospace company and one of only two major manufacturers (the other being Airbus) of 100-plus seat airplanes for the commercial airline industry. Its commercial jet aircraft models include the 737 narrow body; the 747, 767, and 777 wide bodies; and the 787 Dreamliner, as well as the beleaguered 737 MAX, which has been grounded by the FAA since two early-2019 crashes. Serving the military, science, and space and sea exploration sectors, the company also produces KC-46 aerial refueling aircraft, the AH-64 Apache helicopter, the 702 family of satellites, CST-100 Starliner spacecraft, and the Echo Voyager unmanned undersea vehicle. The company generates half of its revenue domestically.

Operations

Boeing's operations are divided into four reportable segments: Commercial Airplanes (BCA); Defense, Space & Security (BDS); Boeing Global Services (BGS); and Boeing Capital (BCC), its global financing operations.

Boeing Commercial Airplanes represents more than 40% of sales and designs, manufactures, and services commercial jet aircraft for both passengers and cargo. More than 10,000 Boeing-built commercial jetliners are in service worldwide, which is almost half the world fleet. The company also offers the most complete family of freighters.

Defense, Space & Security (about 35% of sales) provides design, production, modification, service and support services for large-scale systems, including missiles, munitions, aerial refuelers, transporters, and spacecraft.

Boeing Global Services generates about 25% of sales. The division caters to aerospace and defense needs, including supply chain and logistics management, maintenance, upgrades and conversions, spare parts, training systems, and data analytics and digital services.

Boeing Capital ensure that Boeing customers have the financing they need to buy and take delivery of their Boeing product and manages overall financing exposure.

Geographic Reach

The Chicago, Illinois-based, Boeing's principal operations are in the US, Canada, and Australia, with some key suppliers and subcontractors located in Europe and Japan. About 95% of its manufacturing, warehousing, engineering, and administration facilities are located in the US. Boeing brings in approximately 50% of its revenue from the US, roughly 20% from Asia, more than 10% from Europe, more than 10% from the Middle East, about 5% in Canada, and the remaining 5% comes from Oceana, Africa and Latin America.

Sales and Marketing

The main customer of Boeing's Defense, Space & Security segment is the Department of Defense, which generates about 85% of revenue (including foreign military sales through the US government). Other significant BDS revenue is derived from NASA and customers in international defense markets, civil markets, and the commercial satellite market.

More than 85% of Sales are generated from product sold and about 15% on Sales on services that provides maintenance, training, data analytics and information-based services to customers.

Financial Performance

Boeing's revenue has been fluctuating over the past five years with a total increase of 20% since 2015.

Revenues decreased by $24,568 million in 2019 compared with 2018 primarily due to lower revenues at BCA, partially offset by higher revenues at BGS. Lower BCA revenues are primarily driven by lower 737 MAX deliveries and a revenue reduction of $8,259 million recorded in 2019 for estimated potential concessions and other considerations to customers for disruptions and associated delivery delays related to the 737 MAX grounding, net of insurance recoveries.

In 2019, the company reported losses of $636 million, an $11.1 billion decline from its profits in 2018.

Cash at the end of fiscal 2019 was $9.5 billion an increase of $1.8 billion from the prior year. Cash from operations united $2.4 billion to the coffers, investing activities used $1.5 billion, mainly for additions to property, plant, and equipment and acquisitions. Financing activities generated $5.7 billion mainly from new borrowings.

Strategy

As part of Boeing's business strategy, the company may merge with or acquire businesses and/or form joint ventures and strategic alliances. For example, in 2018 the company completed the acquisition of KLX Inc., a provider of aviation parts and services.

The company also may make strategic divestitures from time to time. These transactions may result in continued financial involvement in the divested businesses, such as through guarantees or other financial arrangements.

Mergers and Acquisitions

Boeing achieves growth by acquiring businesses that focus on specific technology products and target the needs of emerging markets, such as services.

In early 2019, the company completed the acquisition of Houston, Texas-based ForeFlight, a leading provider of innovative mobile and web-based aviation applications for an undisclosed amount. The acquisition of ForeFlight aligns with Boeing's growth strategy of complementing organic investments with targeted, strategic investments that position the company for long-term growth. "We are excited to build on ForeFlight's tremendous success in personal, business and defense aviation so we can provide next-generation, integrated tools to our aviation customers today," said Ken Sain, Boeing Vice President of Digital Solutions and Analytics.

Company Background

The Boeing Company celebrated 100 years in business in 2016. Some of its first aircraft were used in World War I and the company began manufacturing commercial aircraft in 1919. The global aviation industry continued to grow, even through The Great Depression, and Boeing continued to deliver more commercial and military aircraft through the decades.

In 1947, Boeing set speed and distance records with its B-47 and its swept-back wings, a design that would become standard on many commercial and military aircraft. Boeing also designed the first stage of the three-stage Saturn V rocket used for the Apollo space missions in the 1960s. The company went on to develop the Apache helicopter, which is still in use today.

Most recently Boeing has been focused on future mobility products such as autonomous aircraft and next-generation space vehicles.

The Boeing Company

100 N Riverside Plz
Chicago, IL 60606-2016
Phone: 1 (312) 544-2000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: BA
Stock Exchange: , NYSE
Vice Chairman: Raymond L. Conner
Chairman, President, and CEO: Dennis A. Muilenburg
EVP, Business Development and Strategy and CFO: Gregory D. Smith
Employees (This Location): 277
Employees (All Locations): 161,100

Major Office Locations

Chicago, IL

Other Locations

Anchorage, AK
Homer, AK
Eva, AL
Huntsville, AL
Mesa, AZ
Phoenix, AZ
Yuma, AZ
Canoga Park, CA
Cerritos, CA
Costa Mesa, CA
Cypress, CA
Edwards, CA
El Segundo, CA
Garden Grove, CA
Huntington Beach, CA
Lemoore, CA
Long Beach, CA
Los Angeles, CA
March Arb, CA
Mission Viejo, CA
Mountain View, CA
Palmdale, CA
Pleasanton, CA
Rancho Cucamonga, CA
San Diego, CA
San Jose, CA
San Luis Obispo, CA
San Mateo, CA
Santee, CA
Seal Beach, CA
Torrance, CA
Travis Afb, CA
Van Nuys, CA
Victorville, CA
Whittier, CA
Centennial, CO
Colorado Springs, CO
Englewood, CO
East Windsor, CT
Dover, DE
Cape Canaveral, FL
Crestview, FL
Davie, FL
Eglin Afb, FL
Fort Myers, FL
Fort Walton Beach, FL
Hurlburt Field, FL
Jacksonville, FL
Kennedy Space Center, FL
Lauderdale Lakes, FL
Miami Springs, FL
Orlando, FL
Tampa, FL
Titusville, FL
Virginia Gardens, FL
Atlanta, GA
Forest Park, GA
Kings Bay, GA
Macon, GA
Warner Robins, GA
Hickam Afb, HI
Honolulu, HI
Kihei, HI
Bedford Park, IL
Saint Charles, IL
Scott Afb, IL
Swansea, IL
Crown Point, IN
Kansas City, KS
Wichita, KS
Frankfort, KY
Broussard, LA
Cambridge, MA
Concord, MA
California, MD
Hanover, MD
Patuxent River, MD
Bangor, ME
Bath, ME
Bloomfield Hills, MI
Waterford, MI
Saint Paul, MN
Florissant, MO
Hazelwood, MO
Saint Charles, MO
Saint Louis, MO
Saint Peters, MO
Troy, MO
Bay Saint Louis, MS
Columbus, MS
Jackson, MS
Glasgow, MT
Goldsboro, NC
Havelock, NC
Morrisville, NC
Offutt A F B, NE
Omaha, NE
Berkeley Heights, NJ
Mullica Hill, NJ
Parsippany, NJ
Shrewsbury, NJ
Swedesboro, NJ
Albuquerque, NM
Fallon, NV
Las Vegas, NV
New York, NY
Cincinnati, OH
Fairborn, OH
Newark, OH
Wright Patterson Afb, OH
Altus, OK
Oklahoma City, OK
Tulsa, OK
Portland, OR
Wilsonville, OR
Lafayette Hill, PA
Pittsburgh, PA
Ridley Park, PA
Wallingford, PA
Ladson, SC
North Charleston, SC
Goodlettsville, TN
Memphis, TN
Abilene, TX
Austin, TX
Conroe, TX
Dallas, TX
El Paso, TX
Houston, TX
Irving, TX
Laughlin Afb, TX
Plano, TX
Richardson, TX
San Antonio, TX
Universal City, TX
Clearfield, UT
Layton, UT
Ogden, UT
Salt Lake City, UT
West Jordan, UT
Arlington, VA
Chantilly, VA
Chesapeake, VA
Fairfax, VA
Herndon, VA
Norfolk, VA
Auburn, WA
Bellevue, WA
Bingen, WA
Bothell, WA
Everett, WA
Kent, WA
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Maple Valley, WA
Mukilteo, WA
Puyallup, WA
Renton, WA
Seatac, WA
Seattle, WA
Spokane, WA
Tukwila, WA
Bridgeport, WV
Brasilia, Brazil
Rio De Janeiro, Brazil
Salvador, Brazil
Sao Jose Dos Campos, Brazil
Sao Paulo, Brazil
Calgary, Canada
Mirabel, Canada
Mississauga, Canada
Ottawa, Canada
Richmond, Canada
Winnipeg, Canada
Domodedovo, Russia
Moscow, Russia
Tyumen, Russia
Ankara, Turkey
Bruxelles, Belgium
Bristol, England
Hounslow, England
Knaresborough, England
Leighton Buzzard, England
Berlin, Germany
Bogota, Colombia
Seoul, South Korea