Boeing's Turnaround: One Year Under CEO Kelly Ortberg

Boeing's Performance Under New Leadership

• 📈 Since Kelly Ortberg took over as CEO of Boeing in August of last year, the company's shares have risen 35%.
• 🎯 Ortberg's strategy has focused on returning to the basics: quality and safety, which were crucial for the company's recovery.

Financial Turnaround and Projections

• 💰 The focus on quality and safety has helped cut losses and lower the company's cash burn.
• 📊 Boeing projects to be cash flow positive by the end of the year, a key indicator of financial health.

Improving Production and Deliveries

• ✈️ 737 Max production is improving, with a current rate of 38 planes per month, aiming for 42 per month by year-end, pending FAA approval.
• 📦 Increased commercial airplane production is seen as the primary driver for substantial cash flow improvement.
• 📅 The backlog for the 737 Max currently stands at 4,869 planes.

Spirit Deal Progress

• 🤝 International approvals for the Spirit deal have been secured, marking a significant step towards completion.
• 🧩 The Spirit acquisition/split-up is nearing its end and is expected to serve as a catalyst for both Boeing and Airbus.

Historical Context of Struggles

• 📉 The period since the second 737 Max crash in March 2019 has been marked by seven years of struggles for Boeing.
• 🚀 Boeing's year-to-date performance is notable, second only to Nvidia in terms of upside.