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Boeing Reports More Quarterly Losses – Remains Positive On Air Travel Recovery

By John F. Heerdink, Jr.

Boeing (BA) reports a sixth consecutive quarterly loss as the aerospace giant struggles with production issues and a weak jetliner market. Boeing reported a net loss of $561 million for the first three months of 2021 on revenue of $15.2 billion, 10% lower than last year but slightly ahead of analysts’ estimates. Boeing reported a $318 million pretax charge. Loss per share of $1.53 adjusted was reported versus the analyst’s estimate of $1.16. Revenue stood at $15.22 billion versus $15.02 billion expected.

Along with a weak jetliner market from the pandemic, Boeing’s losses have increased up from the extended grounding of its best-selling 737 Max aircraft. Regulators lifted the grounding in November 2020 but the company paused deliveries of the 737 Max because of electrical issues on some of the planes, which further led to the grounding of about 100 of the planes worldwide, just before the peak summer travel season.

Revenue in its commercial airplane unit declined 31% from a year ago to $4.27 billion through deliveries for new planes increased to 77 from 50. The total debt remained unchanged in the first quarter from the previous quarter at $63.6 billion.

Boeing suffered a negative free cash flow of $3.68 billion. Sales from its, space and security unit, and defense increased 19% to $7.16 billion pushed by higher KC-46A tanker sales. The services business generated $3.75 billion, down 19% from a year ago.

Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space, and security systems. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page.





Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Boeing posts sixth consecutive quarterly loss, expects turning point in 2021 in CNBC)


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