Boeing Co (NYSE:BA) stock fell 0.21% (As on Jan 27, 11:26:21 AM UTC-4, Source: Google Finance) after the company missed Wall Street’s estimates as the aircraft manufacturer booked a $3.5 billion charge due to the 787 Dreamliner program’s production woes, while commercial airplane deliveries surged amid the ongoing market recovery. Boeing now expects further delays in 787 deliveries, taking the abnormal cost estimate to $2 billion from $1 billion. Commercial airplanes’ revenue edged higher to $4.75 billion from $4.73 billion as total deliveries jumped to 99 from 59, driven by higher 737 deliveries. The defense, space and security logged a 14% slide to $5.86 billion while global services increased 15% to $4.29 billion. Boeing said it is looking at increasing the 737 program’s production from a 31 per month rate expected to reach in early 2022. The program is currently producing 26 planes a month. Chicago-based Boeing posted a net loss of $4.2 billion for the final quarter of 2021. That was an improvement from a loss of $8.4 billion for the same period a year earlier. In 2020, Boeing coped with order cancelations as COVID-19 slammed demand for air travel.  Cash and investments in marketable securities decreased to $16.2 billion, compared to $20.0 billion at the beginning of the quarter, primarily driven by debt repayment partially offset by operating cash flow. Debt was $58.1 billion, down from $62.4 billion at the beginning of the quarter due to the prepayment of a term loan and repayment of maturing debt. Total company backlog at quarter-end was $377 billion.

BA in the fourth quarter of FY 21 has reported the adjusted loss per share of $7.69, missing the analysts’ estimates for the adjusted loss per share of 15 cents. The company had reported 3.3 percent fall in the adjusted revenue to $14.79 billion in the fourth quarter of FY 21, missing the analysts’ estimates for revenue of $16.66 billion.

Boeing expects 2022 revenue to increase from $62.29 billion reported for 2021 on the back of higher 787 and 737 deliveries, according to an investor presentation. Operating cash flow, which came in at negative $3.42 billion in 2021, is seen improving after the company generated positive cash flow at the end of last year. Operating cash flow improved to $0.7 billion in the quarter, reflecting higher commercial volume, higher advance payments, and lower expenditures.