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Boeing Reports Q4 Loss As Sales Continue To Drop During Pandemic

By John F. Heerdink, Jr.

As per reports, Boeing (BA) reported a Q4 loss this week, as the coronavirus pandemic and extended 737 MAX grounding hurt figures. Boeing reported a loss of $1.39 per share, lower than Wall Street’s average expectation of a loss of $2.52 per share. Revenue dropped 29% to $14.14 billion but performed better than analysts’ estimate of $13.90 billion. The company’s free cash outflow increased to $5.08 billion in the quarter, from $2.89 billion, a year earlier. Total debts increased to $61 billion, from $19.2 billion.

The COVID-19 pandemic has hit air travel hard, forcing major airlines to the brink of bankruptcy and forcing them to seek government help, defer aircraft deliveries, and cut costs.

Boeing Chief Executive Dave Calhoun also informed the employees in a memo that the company expects to remove some 30,000 jobs through buyouts, attrition, and layoffs by the end of 2021.

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 fourth straight quarterly loss as sales slump in Reuters)


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