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Boeing Reports Q3 Miss – Dealing With 787 Dreamliner Delays

By John F. Heerdink, Jr.

As per reports, Boeing (BA) released third-quarter earnings recently & reported an increase in revenue to $15.28 billion in the quarter, up 8% from $14.14 billion a year ago, but below the $16.3 billion analysts forecast. The company reported a $132 million net loss for the quarter though it was narrower than the $466 million it lost a year earlier. The aerospace giant lost 60 cents per share, more than the 20 cents analysts expected. Boeing’s operating cash flow improved to a negative $262 million compared with $4.8 billion a year earlier.

“Our commercial market is showing improved signs of recovery with vaccine distribution and border protocols beginning to open. As demand returns, supply chain capacity and global trade will be key drivers of our industry and the global economy’s recovery,” stated CEO Dave Calhoun.

Boeing informed quality issues with seams on the fuselages of some of its 787s last year, resulting in inspections that prompted Boeing to suspend deliveries of the planes to airline customers, depriving the company of cash. Deliveries resumed briefly this year but were put on halt again in May for more inspections. The company delivered 62 737s in the quarter, the most since the first quarter of 2019, informed CEO Dave Calhoun. It is producing 19 Max planes a month, up from 16 in July. Chinese regulators still haven’t signed off on the Boeing Max, the biggest hurdle left in returning the planes fully to service.

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.

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(Read Original Story: Boeing posts loss as Dreamliner flaws drive up costs, but airplane sales rise in CNBC)


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