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Boeing narrows third-quarter loss as defense sales rise, but focus remains on 737 Max production
Defense and services gains helped offset weaker jetliner deliveries and supply-chain delays as Boeing posted $24.2 billion in revenue and a smaller quarterly loss.
- On Tuesday, Boeing reported a third-quarter adjusted loss of 34 cents per share as revenue rose 4% to $24.2 billion, though Boeing Commercial Airplanes posted a $697 million operating loss.
- Supply chain challenges and production delays in the commercial division overshadowed performance elsewhere. Engine delivery issues hindered production rate increases on the 737 MAX and 787 Dreamliner, limiting output growth.
- Boeing Global Services posted $1 billion in quarterly earnings with an 18.3% operating margin, while the defense arm achieved nearly $500 million in earnings, assisted by a $252 million subsidiary sale.
- Consolidated debt remained unchanged at $45.9 billion from the previous quarter. The company confirmed it has access to $10 billion in undrawn credit facilities to support ongoing operations.
- CEO Kelly Ortberg reiterated plans to deliver the 777-9 widebody next year and aims to stabilize 737 MAX output at 47 jets monthly. Ortberg stated the company has a "stronger foundation" but requires further work.
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37 Articles
Reformatorisch Dagblad+2 Reposted by 2 other sources
American Boeing posted a loss of hundreds of millions in its commercial aircraft division last quarter. This was due to less profitable aircraft deliveries and higher production costs, partly as a result of supply chain problems.
·Apeldoorn, Netherlands (Kingdom of the)
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Boeing Has Wider-Than Expected Jet-Unit Loss as Deliveries Stall
Boeing Co. reported a wider-than-expected loss at its main commercial airplane business as deliveries stagnated in the third quarter and the company ramped up spending to support future production increases.
·New York, United States
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Boeing jetliner production challenges weigh on third-quarter results
·London, United Kingdom
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Coverage Details
Total News Sources37
Leaning Left2Leaning Right6Center6Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
Factuality
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