Thanks largely to a well-received earnings report, and a promise of even better news as the year progresses, Boeing (NYSE:BA) stock surged last week, powering more than one-fifth of the gains on the Dow Jones Industrial Average (DJINDICES:^DJI)

But Boeing has a dirty little secret: Despite booking nearly $19 billion in revenues, Boeing generated almost no cash profit whatsoever in Q1 -- a mere $3 million. Yet the company is promising to produce $4 billion in free cash flow by the time the year is ended.

Can Boeing pull it off? Will the stock be cheap enough to buy if it does? In this video, Motley Fool contributor Rich Smith answers these and other burning questions about Boeing.

Motley Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.