Boeing on Wednesday reported a much smaller first-quarter loss ​than analysts expected, a sign of continued operational recovery at the U.S. planemaker after years of crises that dented its reputation and left ‌it with a mountain of debt.

Boeing Co. reported lower-than-expected cash outflow as it delivered the most aircraft in the first quarter since 2019, continuing its recovery with higher output and more steady operations at its defense and services units.

The plane maker reported brisk first-quarter commercial sales, despite wiring flaws that delayed some deliveries.

First-quarter results show revenue up 14% year over year, with Boeing outpacing Airbus for the first time since 2019.

Boeing reported a first-quarter per-share loss of 20 cents from sales of $22.2 billion. Wall Street was looking for a per-share loss of 68 cents from sales of $21.3 billion.

Shares of Boeing Co. (NYSE:BA) jumped 3.5% after the aerospace group reported a smaller-than-expected first-quarter loss, supported by higher aircraft deliveries and improved operational execution. The company posted an adjusted loss per share of -$0.

The planemaker is ramping up output of the 737 family, a major step toward turning around Boeing's finances and paying down debt.

Boeing (BA) rose 3.5% in premarket trading Wednesday after reporting quarterly results that topped Wall Street expectations on revenue and adjusted earnings, as investors weighed improving aircraft deliveries against ongoing geopolitical and travel-market risks.