On this page of StockholderLetter.com we present the 3/3/2023 shareholder letter from BOEING CO — ticker symbol BA. Reading current and past BA letters to shareholders can bring important insights into the investment thesis.
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01234 67181 9 ) *+ ,- ./.. ,012 +%+ 3 ) % 0 ) 4 % # ) 5 % 6/ + 9 0 ! ] ] % 73 4 ) !# +8 9 :;<3 =>4>?@ ABCDEFG EFGGFIJ EKJKLDBM NAOA 7P ) Q* + P # ) % % +8 9 R17@ =7>@@1@ SFTD UBDGFVDJC KJV UBILBKE EKJKLDBM WIDFJL OXO UBILBKE Y@Z;[3 01234 67181
12 425267892 9 8 6 7 5 4 9 9 2 52 84 9 2 2 5 22 48 2 62 72 2 7 844 5 2 9 6 59 8 5 89 7 7 678 8 872 85 72 2492 7 5 2 2 4 425267892 9 2 7 9 87 9 2 75 9 6 9 2 7 7 27 42 9 2 ! 58 1 75 "7 27 #$%& 2 2 8 2 2 97899 2 472892 #$&' 425267892 9 2 2 9 9 2 587 2 2 9 (29 8 9 2 &' 9789(29 2 )' 2 722 8 52 9 2 9 2 8 72 6 9 2 &'* 8 52 22 + 7 5 272 8 8 72 27 9 8 7 2 9 9 9 2 2 52 84 -./012 -.3.44.5 06/ 781.6/ 8 2 4 879 9 2 4 7 2 7 8 9 9:8 ;.8<6= >.3?061 @A C DECFGHI IDJKCD CELJAMCNE NJOMCHPQ RJEGHI FESEDJMAQ OCHTUCNVTLEA CHF AELSGNEA NJOOELNGCD CGLMDCHEAQ FEUEHAE MLJFTNVA CHF AMCNE APAVEOA UJL NTAVJOELA GH OJLE VWCH 0XY NJTHVLGEAZ @A C VJM [Z\Z E]MJLVELQ VWE NJOMCHP DESELCIEA VWE VCDEHVA JU C IDJKCD ATMMDGEL KCAE VJ CFSCHNE ENJHJOGN JMMJLVTHGVPQ ATAVCGHCKGDGVP CHF NJOOTHGVP GOMCNVZ RJEGHI^A FGSELAE VECO GA NJOOGVVEF VJ GHHJSCVGHI UJL VWE UTVTLEQ DECFGHI _GVW ATAVCGHCKGDGVP CHF NTDVGSCVGHI C NTDVTLE KCAEF JH VWE NJOMCHP^A NJLE SCDTEA JU ACUEVPQ TCDGVP CHF GHVEILGVPZ aECLH OJLE CV KJEGHIZNJOZ b-0c8:.d/84ef4<g86 9406h?0486i1 RJEGHI GA NJOOGVVEF VJ VLCHAMCLEHNPZ jWLJTIW JTL CHHTCD FGANDJATLE CHF LEMJLVGHI NPNDEQ _E NJOMGDE CHF AWCLE C KLJCF AEV JU FCVCQ GHUJLOCVGJH CHF JMELCVGHI E]COMDEA UJL JTL AVCkEWJDFELAQ GHNDTFGHI JTL EOMDJPEEAQ NTAVJOELAQ GHFTAVLP MCLVHELAQ GHSEAVJLAQ LEITDCVJLP CTVWJLGVGEAQ NJOOTHGVGEA CHF JVWELAZ [AGHI VWE OJAV _GFEDP CMMDGNCKDE FGANDJATLE ULCOE_JLkAQ RJEGHI LEMJLVA ECNW PECL JH JTL lHCHNGCD MELUJLOCHNE CHF NJOMCHP MLGJLGVGEAm JTL EOMDJPEE FEOJILCMWGNA CHF MLJILEAA VJ_CLF CNWGESGHI E`TGVPQ FGSELAGVP CHF GHNDTAGJH NJOOGVOEHVAm JTL ATAVCGHCKGDGVPnUJNTAEF EHSGLJHOEHVCDQ AJNGCD CHF IJSELHCHNE ME OCHNEm JTL NJOOTHGVP GHSEAVOEHVA CVNW C SGFEJ JU VWE CHFLU JCLFS JNCNPm CHF JTL GHFTAVLPnDECFGHI @LVEOGA DCTHNWZ CELJAMCNE OCLkEV JTVDJJkAZ GE_ JTL @HHTCD EMJLV JHDGHE CHF DECLH OJLE CKJTV RJEGHIZ >.6-86-h @ aEVVEL ULJO RJEGHI oLEAGFEHV CHF qrs tCSGF aZ qCDWJTH r]ENTVGSE qJTHNGD RJEGHI KP VWE vTOKELA @ qJOOGVOEHV VJ wTCDGVP \TAVCGHCKDE @ELJAMCNE \TMMJLVGHI \jrz qCLEELA {DJKCD {LJ_VW qEDEKLCVGHI VWE oCAVQ rOKLCNGHI VWE |TVTLE qJOMCHP }GIWDGIWVA |JLO 0Yn~ qCTVGJH qJHNELHGHI |JL_CLFnaJJkGHI \VCVEOEHVA vJHn{@@o zECATLEA \EDENVEF oLJILCOAQ oLJFTNVA CHF \ELSGNEA \WCLEWJDFEL HUJLOCVGJH RJCLF JU tGLENVJLA qJOMCHP sUlNELA p u X x y 0Y 0p 0u 0x 0 0 u 0 X 0 x 0uX 0ux 0ux 0
> @ABBAC DCEF GEAHIJ KCALHMAIB NIM OPQ RNSHM @T ONUVEWI XYZ \YZ] ^_`a b]a^cZde f_] gY]hai jY\k`ad _`l m]]a ^ ^_] nYZ]nZYa^ Yn _hl^YZhb haaYo`^hYal ^_`^ bYaa]b^ k]Ykp] `ZYcaq ^_] rYZpq aq m]dYaqs fYq`de YcZ rYZt bYa^hac]l ^Y _]pk b_`Z^ ^_] bYcZl] nYZ ^_] nc^cZ] Yn ]ZYlk`b]s 12345 785 93 9 4 48 4 4 8 5 342 3 " 4 47 4 8 8 43 23 84485 73 3 3 8 7 34 8 337 343 8 8 34 8 8 7 73 3 3 47 8 33 4 8 7 49 73 8 7 4 3 47 8 7 342 3 93 34 0 337 7 +,++ +,+7 +++/ 4383 9 43 8 3 4734 4! 8 -9 0: 8 7 3 +. 8 73 8 637 43 3 3 3 73 8 7 8 7 !"# $ 47 8 3423 3 ; 3 234 3 8 7 <. " 5 8 8 3 3 8 4 4 5 8 4 8 4 48 8 3 *9 93 8 7 3*8 9 342 3 47 8 8 3 43 437 8 3 8 7 8 8 3 8 4 8 834 8 8 34 8 3 %3 7 9 4 9 3 33 3&8 8 35 8 7 ' 8 5 8 7847 8 843 3 5 4 43 8 4 8 7 34 1 3 3 3 837 3 334 8 7 43(3 4 28 3 8 7 8 437 5 4 7 3 8 7 3 5 8 3 3 9 4 7 %3 3 8 23 4 43 93 823 873 4 ) 435 3 34 438 3 9 4 70 387 834 8 3 8 7 73 3 3 47 8 7 =4 4 2 8 7 3& 8 7 84 3 8 3 8 8 5 23 3 9 3 3 43 " 4 * 4 3 3 8 7 3& 43 4 9 4 7 8 7 35 7* 437 5 4 98234 4 43 3 43 3 8 35 4 423 3 384 8 7 28 %3 9 3234 .77 8 5 7 23 39 8 8 3 9 73 234 4 3 3 23 3 +,+ -./ 8 73 3 4 438 4 3 36 4 34 8 7 43 8 3 4 3 45 74 23 32345 785 7 4 43 5 7 45 4 82 4 9 3 234 39 4 3 8 9 73 3 7 3 8 35 4 47 4 49 . 84 4 8 8 5 7 ) 435 93 8 7 342 3 439 4 9 4 4 3 5 8 0, 38 83 0 00 4 84 5 3 334 8 7 8 8 4 $3 3 8 3& 3 8 8 3 3 4 8 50 43 3 45 343 8 33 8 3 5384 3 " 4 38 9 4 84 7 3 4383 334 8 73 873 9 3 93 7 7 23 8 8 3 5 8 834 8 837 7 8 8 4 8 7 8 8 3 8 3 4 8 8 3 8 7 73 234 8 7 8728 37 47 5 3 $ 8 4387 28 %3 3 8 37 43 384 8 7 3 5 438 5 3 34 4 8 8 3 4 3 34 . 48 8 1482 ! 8 1 4 3 3 - 77 3 73 47 4 1 788 37 18 7 8 3 4 438 8 7 43 3 5 58 8 %3 3 3 8 8 5 934 3 3 3 37737 3 323 3 ' 3 8 34 3 23 4 38 83 4 47 8 7 342 3 9 3 438 43 4 3 8 3 8 9 8 483 8 5 6 7 3 6 3 348 3 5 8 74 23 43 49 0
?@?? BCDEFG HIJEKFLMEK 1234564 8 9 9 1234564 ! " 0 1 $ % 2 - 9 ! 90 1234564 < # % 4 * ! 4 ! . % 4 % % 6 6 5 " #! 1234564 7 ! N / 8 " 3 * # % " 1 % ! 1 ; - 4 ! $ 6( 4 * 3 4 * # % 4 %! / 8 ! 3% - 4 * % 5 %! 5 6 O ! %! ! 4! P $ Q ! N 6 N $ % N / 4 % N + - % % N $% / = - % - %! - N O 4 - " ! % N O % = 4 4 ! - ! 2 ! N & % = R = ! 4 4 4 ! % = % % N 1! % ! 4 - ! % - % N . 4 2 % ! / % N . % " 4 / = 4 N 9 - 5N # ! 4 6 * ! " % STUV W - N # % 8 4 ! 4 ! = R % N 0
 • shareholder letter icon 3/3/2023 Letter Continued (Full PDF)
 • stockholder letter icon 4/5/2024 BA Stockholder Letter
 • stockholder letter icon More "Aerospace & Defense" Category Stockholder Letters
 • Benford's Law Stocks icon BA Benford's Law Stock Score = 60


BA 3/3/2023 Shareholder/Stockholder Letter Transcript:



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031617
7
18
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4192

01234  67181
9                              

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12  425267892  9 8  6  7  5  4  9        
9 2  52 84     9   2  2  5 22        48 2  
62 72         2 7  844   5    2 9   6  59  8   5   
    89     7   7  678    8    872  85   72 2492   
     7  5     
  2    2      4    425267892   9 2   7 9  87    
9 2   75      9  6  9 2         7      7   27 42  
      9 2  !   58   1 75  "7   27       #$%&     2  
  2      8 2        2      97899 2  472892   
    #$&'  425267892   9 2    2 9       9 2  587 2  
  2 9       (29  8    9 2    &'   9789(29     2  
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6  9 2    &'*   8  52             22        
+ 7  5     272   8   8  72    27  9  8    7  
       2 9   9  9 2    2     52 84  -./012  
-.3.44.5  06/  781.6/  8    2  4 879  9 2  
4  7 2   7     8  9   
9:8  ;.8<6=  >.3?061
@A  C  DECFGHI  IDJKCD  CELJAMCNE  NJOMCHPQ    
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MLJFTNVA  CHF  AMCNE  APAVEOA  UJL  
NTAVJOELA  GH  OJLE  VWCH  0XY  NJTHVLGEAZ  
@A  C  VJM  [Z\Z  E]MJLVELQ  VWE  NJOMCHP  
DESELCIEA  VWE  VCDEHVA  JU  C  IDJKCD  ATMMDGEL  
KCAE  VJ  CFSCHNE  ENJHJOGN  JMMJLVTHGVPQ  
ATAVCGHCKGDGVP  CHF  NJOOTHGVP  GOMCNVZ  
RJEGHI^A  FGSELAE  VECO  GA  NJOOGVVEF  VJ  
GHHJSCVGHI  UJL  VWE  UTVTLEQ  DECFGHI  _GVW  
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\EDENVEF  oLJILCOAQ  oLJFTNVA    
CHF  \ELSGNEA  
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RJCLF  JU  tGLENVJLA  
qJOMCHP  sUlNELA  
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8 7   49    73 8 7   4   3   47     8 7   342  3   93        34 0  337        7    +,++   +,+7    +++/   
 4383   9      43   8                     3   4734        4!  8   -9 0:  8 7   3   +.     8      73     8   637  
43    3      3 3  73 8 7   8 7                  !"# $    47      8   3423   3  ; 3     234 3   8 7  <. "  
     5    8     8  3  3    8   4 4 5       8     4  8 4 48    8   3 *9      93   8   7     3*8     9     342  3   
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%3  7        9 4  9   3   33    3&8      8 35  8 7  ' 8  5  
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8 7  43(3    4  28  3    8 7     8     437   5   4 7      3   8 7  3     5      8  3       3  9 4 7   %3    3  8  23  
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9 4 7  8 7   35 7*         437   5   4    98234      4     43   
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shareholder letter icon 3/3/2023 Letter Continued (Full PDF)
 

BA Stockholder/Shareholder Letter (BOEING CO) 3/3/2023 | www.StockholderLetter.com
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