Boeing: smaller-than-expected Q1 loss

(CercleFinance.com) - On Wednesday, Boeing reported a loss for Q1, as a result of quality and safety problems encountered with its 737, although its performance turned out to be much less severe than expected.


The US aerospace and defense giant posted an operating loss of $388m for Q1, compared with a loss of $440m last year.

The loss per share was limited to $1.13, whereas analysts were expecting a loss of $1.65.

Q1 sales fell by 8% to $16.6bn, again exceeding the consensus of $15.2bn.

Over the period, cash burn amounted to $3.9bn, compared with $786m for the same period in 2023.

In a press release, Dave Calhoun, the outgoing CEO, explains that the accounts reflect the measures the group has taken to improve its quality and safety management systems.

The production rate for the 737 program is now below 38 aircraft per month.

Boeing shares gained over 3% in pre-market trading after these announcements.


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