Boeing: forecasts confirmed despite 737 problems
(CercleFinance.com) - On Thursday Boeing confirmed its annual forecasts despite problems encountered by a supplier, which have forced it to scale down its production targets for the 737 aircraft.
The US aircraft manufacturer posted a Q3 operating loss of $1.1bn, or $3.26 per share, compared with a loss of $3.1 billion ($6.18 per share) a year ago.
The group, based in Arlington, Virginia, explained that it had suffered from an "abnormal" level of expenditure and costs, particularly in R&D, although above all it was a fall in deliveries of 737s that bit.
Because of difficulties encountered by a supplier - which caused problems with the 737's rear bulkhead - Boeing now expects to deliver only between 375 and 400 aircraft in this family in 2023.
Q3 sales nevertheless rose by 13% to over $18bn, well above the consensus of $17bn.
The civil aircraft division generated sales that rose 25% to $7.9bn, based on 105 aircraft deliveries.
The aircraft manufacturer also maintained its annual targets, still forecasting operating cash flow of $4.5bn to $6.5bn in 2023 and free cash flow of $3bn to $3.5bn.
Following this publication, Boeing shares were up over 2% in pmt on Wednesday.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The US aircraft manufacturer posted a Q3 operating loss of $1.1bn, or $3.26 per share, compared with a loss of $3.1 billion ($6.18 per share) a year ago.
The group, based in Arlington, Virginia, explained that it had suffered from an "abnormal" level of expenditure and costs, particularly in R&D, although above all it was a fall in deliveries of 737s that bit.
Because of difficulties encountered by a supplier - which caused problems with the 737's rear bulkhead - Boeing now expects to deliver only between 375 and 400 aircraft in this family in 2023.
Q3 sales nevertheless rose by 13% to over $18bn, well above the consensus of $17bn.
The civil aircraft division generated sales that rose 25% to $7.9bn, based on 105 aircraft deliveries.
The aircraft manufacturer also maintained its annual targets, still forecasting operating cash flow of $4.5bn to $6.5bn in 2023 and free cash flow of $3bn to $3.5bn.
Following this publication, Boeing shares were up over 2% in pmt on Wednesday.
Copyright (c) 2023 CercleFinance.com. All rights reserved.