Boeing reported fourth-quarter earnings per share of 9.92, far exceeding consensus estimates for a loss, driven by revenue of 23.95 billion that represented a 57% year-over-year increase. Net income for the quarter reached 8.22 billion, compared with a loss of 3.86 billion in the same period last year, reflecting both higher aircraft deliveries and a 9.6 billion gain from the divestiture of a non-core business unit.

The company generated free cash flow of 375 million in the quarter, surpassing Bloomberg consensus of 271.9 million. This improvement was attributed to favorable working capital timing and increased commercial airplane deliveries, partially offset by elevated investments in new production facilities in Charleston and St. Louis.

Boeing delivered 160 commercial airplanes during the quarter and reported a backlog exceeding 6,100 jets valued at 567 billion, the highest on record. In the defense segment, revenue grew 37% to 7.4 billion year-over-year, while order commitments pushed the defense backlog to an all-time high of 85 billion.

Following the fourth-quarter results, multiple firms reaffirmed buy ratings and raised medium-term targets. RBC Capital, Cowen & Co. and Tigress Financial highlighted improving free cash flow visibility and operational stability, while noting the effectiveness of Boeing’s four-point turnaround plan focused on production quality, safety enhancements and program execution.