Boeing has reported a loss of $3.5 billion (€3.22 billion) for the year 2022, while its cash flow is positive for the first time since 2018 thanks to higher commercial deliveries.

The US aircraft manufacturer is still facing supply chain issues and is working to improve results at its Boeing Defense unit, which posted a $3.5 billion loss in 2022.

Sales reached $20 billion in the fourth quarter, compared with $14.79 billion in the same period the previous year, with a loss of $1.75 per share. Boeing was expecting earnings of $20.38 billion at $0.26 per share, according to Refinitiv data.

"While challenges remain, we are well positioned and on track to restore our operational and financial strength," said Boeing CEO Dave Calhoun.

The manufacturer said it expects to deliver up to 450 of its 737 MAX jets and 70 to 80 787 Dreamliners in 2023. The company reiterated that it expects to generate $3 billion to $5 billion in free cash flow in 2023.

"While we have made significant progress, challenges remain and we still have work to do to ensure the stability of our operations and supply chain," Dave Calhoun said in his email to employees.

The company's shares were down 1.7% in pre-market trading. (Reported by Valerie Insinna and David Shepardson; Lina Golovnya, edited by Kate Entringer)