Boeing Defense, Space & Security FY 2021

In its FY 2021 results, space systems manufacturer Boeing‘s Defense, Space & Security division reported:

• Defense, Space & Security segment reported $26.5 billion in revenue for 2021, up 1% from the prior year.
• A double-digit YoY decrease in Defense, Space & Security 4Q 2021 sales at $5.9 billion –$917 million less than Q4 sales in 2020. Boeing attributed this to lower volume and less favorable performance across the portfolio, including a $402 million pre-tax charge on the KC-46A Tanker program.
• A relatively quiet quarter for the division’s space-specific business. Most decreases were attributed to events related to military hardware and aircraft.
• Backlog at Defense, Space & Security stands at $60 billion, with 33% representing orders from customers outside the U.S.
• Boeing’s overall FY 2021 performance: A 7% YoY revenue boost compared to 2020 driven by a rebound in commercial airplane deliveries. The company reported $62.3 billion in revenue for 2021. Net loss was $4.3 billion.