An aerial photo shows Boeing 737 Max aircraft parked on the tarmac at the Boeing factory in Renton, Washington on March 21, 2019.
Lindsey Wasson | Reuters
Boeings Wednesday’s quarterly report will be the most comprehensive account yet of the fallout from a 737 Max 9 plane’s door plug deflating in January, an accident that sparked another costly safety crisis for the manufacturer.
Analysts expect the 737 maker to report its seventh straight quarterly loss and that it has burned through more cash than expected because of the accident, which has led to more federal scrutiny and a production slowdown, hurting the global supply of new planes Busy summer travel season was restricted.
Here’s what Wall Street expects for Boeing for the period ending March 31, according to LSEG estimates:
- Loss per share: $1.76 adjusted
- Revenue: $16.23 billion
Boeing has been hampered in ramping up production, particularly of its best-selling 737 Max planes. After the Alaska Airlines Max 9’s door plug blew on Jan. 5, the Federal Aviation Administration blocked Boeing from increasing production. The FAA also said it found numerous violations in Boeing’s supply chain.
There are many questions for Boeing CEO Dave Calhoun, who announced in March that he would step down at the end of the year.
Those questions include: When will Boeing stabilize its production line and increase production of the 737 Max and other aircraft? When will Boeing name a new CEO? How much will the current crisis cost Boeing? When might Boeing close a deal to buy back the fuselage maker? Spirit AeroSystems.
This is breaking news. Please check back for updates.
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2024-04-24 04:01:01
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