Boeing (BA) reported fourth quarter results that topped expectations, but the planemaker suspended its 2024 guidance as it continues to deal with the fallout from an accident involving an Alaska Airlines 737-9 MAX, which suffered a door “plug” blowout while in flight in early January.

For the quarter, Boeing reported top line revenue of $22.02 billion vs. $21.07 billion expected, according to Bloomberg consensus estimates. Boeing commercial sales revenue for Q4 came in at $10.48 billion vs. the $10.04 billion expected. From a profitability standpoint, Boeing reported an adjusted EPS (or “core,” as Boeing calls it) loss of $0.47 vs. loss of $0.76 estimated.

Boeing reported operating cash flow of $3.381 billion and core operating margin of 0.4%, compared to last year's margin of negative 3.2%.

But it is the suspension of Boeing's forward guidance that will concern investors.

“While we often use this time of year to share or update our financial and operational objectives, now is not the time for that,” Boeing CEO Dave Calhoun said in a message to employees. “We will simply focus on every next airplane while doing everything possible to support our customers, follow the lead of our regulator and ensure the highest standard of safety and quality in all that we do. Ultimately, that is what will drive our performance.”

For instance, for 2023 Boeing had a free cash flow forecast of $3 billion to $5 billion and operating cash flow estimate of $4.5 billion to $6.5 billion. Boeing declined to provide a 2024 update on those projections.

Boeing shares were little changed in pre-market trading.

As for its production guidance, Boeing says it will cap 737 MAX production at 38 planes per month until the FAA is satisfied with safety and quality. Last week the FAA limited the planemaker’s MAX jet production.

Boeing said it will produce five 787 Dreamliners per month. It's still planning to increase output to 10 per month. Production for the 777X wide-body will continue as planned.

Earlier this month, Boeing reported that it delivered 528 planes in 2023, and booked 1,314 net new orders in 2023, up from the 480 deliveries and 774 net new orders it had in 2022.

Across its commercial jet portfolio, Boeing delivered 396 of its 737 jets last year, hitting its goal of at least 375 of the planes but missing its original target of 400 to 450 jets. Boeing also delivered 73 of its 787 Dreamliners in 2023, meeting its goal of 70 to 80. Finally Boeing said its order backlog now stands at 5,626 up from 5,324.

As for the 737-9 MAX jet at the center of the Alaska Airlines fiasco, those jets are heading back in service for Alaska and United Airlines after the FAA approved Boeing’s inspection and maintenance plan. Boeing is still in regulators' crosshairs, however, as the FAA halted plans for Boeing to expand production of the 737-9 MAX and has expanded oversight of Boeing and its suppliers in the plane’s production process, as well as the investigation into its compliance with manufacturing requirements.

A different jet in the MAX family, the 737-7 MAX, also suffered another setback this week, after Boeing withdrew a request to the FAA to grant it a safety waiver for the plane, after Being reported an issue with the plane’s engine inlet de-icing system last year. Boeing now says it will come up with an “engineering solution that will be completed during the certification process." The 737-7 MAX is a smaller version of the MAX plane that hasn’t been certified by the FAA yet.

The CEOs of United and Alaska Airlines, two of the biggest purchasers of 737-9 MAX jets, have expressed frustration over Boeing’s continued manufacturing problems with the plane.

"As we move forward, we will support our customers, work transparently with our regulator, and ensure we complete all actions to earn the confidence of our stakeholders," Boeing's Calhoun said in a statement.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.

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