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Boeing posts smaller-than-expected quarterly loss as recovery gains traction
Sales rose 14% to $22.22 billion as Boeing narrowed its quarterly loss and boosted deliveries across its commercial, defense and services businesses.
- Boeing reported a smaller-than-expected first-quarter loss of 20 cents per share, while sales rose 14% to $22.22 billion, exceeding analysts' estimates and signaling improvements across the manufacturer's business units.
- CEO Kelly Ortberg, tasked with course-correcting after years of manufacturing and safety crises, told employees on Wednesday the company remains on plan for the year. Ortberg praised the team for pulling together amid challenges.
- Boeing's commercial aircraft unit posted $9.2 billion in revenue, a 13% increase, while delivering 143 airplanes in the quarter. The Maxes are rolling out at about 42 per month to meet demand.
- Services business revenue rose 6% to $5.37 billion. Further production increases require Federal Aviation Administration approval, a requirement following the fuselage door plug incident.
- Boeing expects certification for the long-delayed Max 7 and Max 10 later this year, with deliveries of these aircraft scheduled to start in 2027. The timeline marks a critical milestone for stabilizing the Max family.
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Boeing posts smaller-than-expected quarterly loss
Boeing has today reported a much smaller first-quarter loss than analysts expected, a sign of continued operational recovery at the US planemaker after the pandemic and years of crises that dented its reputation and left it with a mountain of debt.
·Ireland
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Boeing Narrows Cash Burn in First Quarter as Jet Deliveries Rise
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.
·United States
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Coverage Details
Total News Sources15
Leaning Left2Leaning Right1Center8Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 18%
C 73%
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