Boeing: posts 21% drop in quarterly revenue on 737 woes
(CercleFinance.com) - Boeing reported a 21% fall in third-quarter revenue on Wednesday, as demand for its 737 MAX continued to fall from the prolonged grounding of the aircraft.
Revenue fell to 20 billion dollars, from 25.1 billion dollars a year ago, with just 5 deliveries of the 737 over the quarter, compared to 138 a year ago.
In all, Boeing delivered 62 commercial aircraft over the quarter, from 190 a year ago.
Net attributable income fell to 1.17 billion dollars, or 2.05 dollars per share, in the past quarter, from 2.36 billion dollars, or 4.07 dollars per share, a year ago.
The consensus was expecting 2.11 dollars per share.
In its statement, the Chicago-based planemaker said that it is continuing its discussions with global regulators and customers before the 737 MAX returns to service.
So far, Boeing has assumed that regulatory approval will be obtained for the 737 MAX's return to service from the fourth quarter of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Revenue fell to 20 billion dollars, from 25.1 billion dollars a year ago, with just 5 deliveries of the 737 over the quarter, compared to 138 a year ago.
In all, Boeing delivered 62 commercial aircraft over the quarter, from 190 a year ago.
Net attributable income fell to 1.17 billion dollars, or 2.05 dollars per share, in the past quarter, from 2.36 billion dollars, or 4.07 dollars per share, a year ago.
The consensus was expecting 2.11 dollars per share.
In its statement, the Chicago-based planemaker said that it is continuing its discussions with global regulators and customers before the 737 MAX returns to service.
So far, Boeing has assumed that regulatory approval will be obtained for the 737 MAX's return to service from the fourth quarter of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.