Boeing BA.N reported a profit for the fourth quarter on Tuesday, primarily benefiting from the sale of a navigation software service provider and an increase in jet production and deliveries. The company also recorded a $565 million charge for its KC-46 aerial refueling tanker program due to anticipated increases in production support and supply chain costs. While the profit fluctuation stemmed from the business sale, Boeing continues to ramp up production of its two most popular jetliners—the 737 MAX and the 787—while addressing quality issues that have caused significant delivery delays for the plane manufacturer in recent years. Boeing ended the year with a monthly production rate of 42 units for the 737 MAX and is increasing the 787 production rate to 8 units per month. For the quarter ended in December, the plane maker posted a net profit of $8.22 billion, or $10.23 per share, compared to a loss of $3.86 billion, or a loss of $5.46 per share, in the same period last year. Despite the production improvements, Boeing's commercial airplane division reported a quarterly loss of $632 million. The company's defense and space division incurred a loss of $507 million. The company's stock fell approximately 1% in pre-market trading. The quarterly results included the sale of Jeppesen to Thoma Bravo for $10.6 billion in cash and the reacquisition of Spirit AeroSystems for $4.7 billion in stock. Boeing repaid more than $3 billion of Spirit's debt, resulting in a net gain of approximately $7.6 billion. Across all jet programs, Boeing delivered 600 passenger aircraft last year, marking its highest annual delivery total since 2018. During this period, the company faced challenges including the 737 MAX scandal, the pandemic, supply chain bottlenecks, mid-air incidents that exposed systemic quality and safety issues, and labor problems. "There is progress, and with progress comes expectations. Our customers and stakeholders will hold us to higher expectations this year," Boeing CEO Kelly Ortberg said in a memo to employees on Tuesday. "We should hold each other to higher expectations." He stated that the company needs to certify the 737-7, 737-10, and 777X models and make progress on fixed-cost defense and space projects, which are behind schedule and have cost Boeing billions of dollars. During Ortberg's tumultuous first year, Boeing resolved a prolonged labor strike in its defense business and reached an agreement with the U.S. Department of Justice, avoiding criminal prosecution related to the two fatal 737 MAX crashes. Boeing generated $375 million in cash during the fourth quarter but still burned through $1.9 billion in cash for the full year, partly due to ongoing certification delays for the 737 MAX and 777X programs. According to data compiled by LSEG, Boeing's fourth-quarter revenue surged 57% to $23.95 billion, compared to an expected revenue of approximately $22.6 billion.