Boeing on Wednesday reported a narrower-than-expected loss and less cash burn than analysts expected, and said it is stabilizing its supply chain as it grapples with its latest 737 Max safety crisis.
Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
Loss per share: $1.13 adjusted, vs. estimated adjusted loss $1.76
Revenue: $16.57 billion, vs. estimated $16.23 billion
Boeing has been hamstrung in ramping up production, especially of its best-selling 737 Max planes. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing output. The FAA also said it found numerous issues of noncompliance along Boeing’s supply chain.
Boeing shares gained 2.8% in morning trading.
Questions abound for Boeing’s lame duck CEO Dave Calhoun, who announced in March that he would step down by year-end.
Among those questions: When will Boeing stabilize its production line and increase production of the 737 Max and other planes? When will Boeing appoint a new CEO? How much will the current crisis cost Boeing? When might Boeing finalize a deal to buy back fuselage maker Spirit AeroSystems
