Boeing posts larger than expected third quarter loss
U.S. aircraft maker Boeing on Wednesday announced a net loss above analysts’ forecasts, and revised downward the delivery volume of its flagship 737 jetliner for 2023 due to a now-known problem in a part of the fuselage.
“We continue to make progress and, despite the challenges we faced in the third quarter, we remain on track for our long-term recovery,” said Dave Calhoun, group chief executive officer, in a message to employees.
“That said, we have more work to do,” he acknowledged, assuring that demand for Boeing’s products and services remains “strong.”
But compliance, development and procurement issues hampered the group’s smooth operations, he noted.
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Between July and September, Boeing had a turnover of US$18.1 billion, an increase of 13% over the same period last year, in line with analysts’ consensus.
On the other hand, it posted a net loss of US$1.64 billion in the quarter, when market analysts expected it to be around US$1.5 billion.
Reported per share excluding exceptional items -a reference for the markets-, the net loss stood at 3.26 dollars while the consensus was 3.18 dollars.
The manufacturer expects to deliver between 375 and 400 units of the Boeing 737 during the current fiscal year, instead of the 400 to 450 previously expected, AFP reported.
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