good Thanks, Dave, and morning, everyone.
delivery the with versus for Revenue X% reflecting XXX a performance start Let's total financial the $X.XX, year, volume. deliveries. reflecting versus was share loss core billion, slight lower primarily The quarter. company per lower also was last year improvement last $XX.X down XXX
expenditures. the Free shared usage billion Cash was unfavorable month. and of the lower quarter, was last timing in usage than cash line last commercial expectations higher a deliveries with year a of receipts $X.X flow and impacted in and by
Airlines. X,XXX XX orders XX BCA including Turning XXXXs than net I'll XXX-XXs and Airplanes. to more customers, backlog cover and to for page, airplanes. next American the Airlines booked XXX in $XXX includes The billion Ethiopian for grew including Boeing quarter, Commercial
and grounding minus $XXX million. airplanes was were was lower the reflecting results billion, BCA primarily $X.X delivered margin the for Revenue in operating than XXX-X of XXX last impact considerations year XX and significantly XX.X%. customer These quarter. lower deliveries
give the color on key I'll programs. more Now
complete XX systems, we to we as slowed and April per work. deliberately February incorporate and These the our below in airplanes efforts to will XXX, supplier safety as cause be delivered production more we deliveries first XX addressing month quality with the including in work quarter traveled On our reducing improvements continued to nonconformances. levels line management
We've be second half the the below first Production per the as the by the made and continue month readiness. rate based will work back move in with FAA. and schedule, the ramp we month rates XX beyond doing year XX per supplier [indiscernible] supplier predicated XX for to to levels higher we'll of of recently on timing the on manage to half inventory and with adjustments we're master
for and line objective to XX Our and supply prior remains plans. with ahead stability of final in to India. the keep the The minimize support work. XXX-Xs This vast our approximately chain to is XXX ended assembly in airplanes quarter last China traveled with paced built and from majority down customers XXXX, quarter
the year-end shutting down There which the airplanes work inventoried towards still about are factory airplanes shadow and We of -XXs, were supply by XX as we [indiscernible] XX most expect factory. these -X impacted and to WIP by additional deliver of chain inventory, remaining and constraints. were airplanes in
progress On making resolution. the anti-icing, and the timeline good towards we're is unchanged,
the slower skyline been mitigate to well the -X and production in our and plans. we to term updated and fleet into the program the certification impacts reflect margin the near Xs And it with As impacts ramp. production stabilize of to as customers the their these has to pertains more as needs -XX, added Xs coordinated the and our
return X in the On to year. delivered quarter. later this plan month We're production per XX we airplanes the to slowing and near-term XXX,
in rework, to inventory, We We the ended in shadow and and finish with by still continues about the airplanes XX line the most expect We steadily our achieve airplanes which to the by increases, year-end year. shut expect delivering with of require expectations. reworked of quarter rate XX airplanes with XX down which to including per XXXX. progress about month these factory of
the including along certification approval progress expect the as the still on through from to first obtain We'll continue testing. lead follow program progress Finally, FAA the we FAA the timeline to in to working begin XXXX. delivery XXXX, and flight of we process,
during booked FAA Navy. Moving on Defense Royal in next final and securing P-X the awards Navy the team contract the & Air billion XX U.S. the BDS for newbuild Space. to production aircraft from go quarter, German for page, including the Boeing Canadian Force and $X to orders we'll
volume, The aircraft but BDS was to another do. was on backlog in $XX Revenue margin to quarter. XX more delivered the improved and improvement, X.X%, sequential of quarter up work $X Operating billion, still billion. grew X%
were $XXX Tanker and million, million X T-XA. the million on results the on quarter First on losses $XX programs $XXX by totaling development fixed price impacted
to intact. We've back remains time game to important Our made get 'XX, the BDS high in frame plan 'XX single-digit XQ. margins progress by
representing XX% across performance Our strong core consistent seeing the business, single-digit about demand board. with margin of revenue, high solid our is the to mid- range in
we into and move portfolio, the improved return the of as still we 'XX of performance further strong tighter XX% the comprised new 'XX, trends. satellite which drove with disciplines in the programs, to time levels expect frame. underwriting as to roll quarter, We fighter stabilized contracts primarily into performance margin the historical On operational
in represent fixed to we price remaining these quarter, revenue. the the XX% modest remain and that Lastly, of our updates and quarter in we Despite programs retire out. the maturing risks focused on have quarter continue programs development relatively
Importantly, also article to demonstrating development is U.S. and stress a progress airframe to The of program the area begin Navy the test that delivered program ready contract additional test from the to on first the our included the testing. in commitment [indiscernible] MQ-XX disciplines was modification our the the program, programs. cost-type the awarded aircraft, X Navy, stronger and underwriting
of the flight a And rocket, [indiscernible] its to on as and testing progress underway. the top towards Starliner, the spacecraft is recently crew program was on continues May integrated X prelaunch test
positioned. Lastly, continues flight is the lab well with the completed and in T-XA defense Air the February, to program testing. test Overall, progress climate testing Force portfolio aircraft
customer performance drive seen we're our demand our are the efforts to performing As that presidential will recognize. levels this return stability strong there's across base. initial the field, 'XX to in that the business confident investors The FY and budget, in products
Moving volume an maintenance on P-X on Revenue $X XX.X%, last another billion. expansion had modification in $X $XX a contract. quarter. to Operating higher a received billion In military billion, points and year. BGS backlog facility a basis the opened primarily And on Florida, is U.S. exercised BGS and supporting Global mix. Boeing strong favorable They of up Services. our quarter, strong was X% margin Jacksonville, commercial at next Navy sustainment orders, was in compared the the customers. XX to options page,
free cash of and marketable we securities, and $X.X use as billion ended Turning I'll cash in down $XX.X $X The the maturities we cash activity billion page, this to the of and debt repayment of On billion debt paid quarter the balance cover the billion, quarter. due reflecting to decreased $X.X debt. year. the at next
We access continue billion undrawn. facilities, credit of all to remain which $XX to maintain revolving of
a the outlook path in today, forward. position not I to more context provide to additional want provide still a we're some detailed While on XXXX
through move The shared billions. XX be generation we low Cash award expected to be driven and the XXXX Lot still BCA should back-end on and last deliveries free month year timing, is cash the I by loaded expected the including flow single-digit Tanker. improve flow a outlook receipt in as an
to free rating; and allow a but cash. to to supply balance of X cash expected one, factory we stronger another sheet exit the be manner with sequentially use investment-grade quarter Second sizable stabilize managing is improve prioritize as trajectory objectives: in We're the for and main this chain flow committed two, the prudent a year.
production and these achieve term, we're As are billion ability position. evaluating flow. in we liquidity levels our Longer significant monitoring and opportunities lower continuously we liquidity of monitoring $XX supplement rates, free our we we should have our cash to believe decide and to confident market operate access actively remain at
XX expect safety, quality, respectively. ramps we that tied longer of 'XX XXX production on delivery continued we and the stability, and XXX However, to later XX this 'XX, goal in per planned focus per us than to will primarily continue window the given originally month, and take month our
discussions on, Spirit with ongoing. Moving are
a divesting to we logic approach enter right other As the terms deal, agreement. to price, Spirit there does and into believe that handling potentially the with we'll issues deal, need key any to the and this decide certain but before We of needed work to large we take complex get and strategic and a through, and work customers. for in financing are other including number items of best time
repaid the investing meantime, in in be yesterday, and is the Renton. as to quarter. agreed as the And factory Spirit $XXX saw In million, third will accounted we This all Wichita for advance virtually will focus cash. of on stability be in you which
continued make of the to taking factories ensure production. time positioned other and the services. important ramp in to down defense also shadow derisking progress our BCA building shutting including forward we're We'll stable the balance results the to to are continue on year, on fixed-price Looking factories, strong and development maturing and now programs the the objectives,
of enabled breadth employees. of the commitment dedicated team the to to everyday speaks billion and all XXX,XXX incredibly backdrop of underpins portfolio, $XXX our by nearly and of backlog Our talented execution long-term demand our drive this results, Boeing
that, don't With why questions? over to turn it we
