Boeing posts quarterly loss, but stock surges as aircraft deliveries drive up cash

Boeing results topped expert expectations Wednesday acknowledgment to a pickup successful commercialized craft deliveries arsenic the shaper increases production, but losses successful its defence and abstraction businesses drove the shaper into the reddish for the quarter.

The institution generated $2.6 cardinal of escaped currency travel successful the quarter, up of expert forecasts, and reiterated its full-year guidance of betwixt $3 cardinal and $5 cardinal of escaped currency flow.

Boeing shares were up astir 6% successful aboriginal trading aft releasing results.

Here's however the institution performed during the play ended June 30, compared with Refinitiv statement estimates

Boeing and main rival Airbus person some struggled to summation craft accumulation successful the aftermath of the Covid pandemic arsenic immoderate airlines face longer waits for caller jets, conscionable arsenic question request rebounds.

The institution delivered 136 planes successful the 2nd quarter, up from 121 craft during the aforesaid play past year.

Boeing said Wednesday that it is transitioning to higher accumulation of its bestselling Max aircraft, astatine a gait of 38 jets a month, up from 31 a period — a program it outlined earlier this year. The institution reiterated its 737 transportation forecast of betwixt 400 and 450 planes this year.

Boeing said it raised output of its 787 Dreamliner craft to a planned 4 per period and stuck with a program to nutrient 5 a period by the extremity of the year. It expects to present arsenic galore arsenic 80 of the wide-body planes successful 2023.

Boeing earlier this twelvemonth reported quality issues successful some programs but has maintained transportation projections.

"With request beardown crossed our cardinal markets, it is important that we enactment focused connected execution and connected driving stableness successful our factories and proviso concatenation to guarantee we conscionable our lawsuit commitments," CEO Dave Calhoun said successful a connection to employees Wednesday.

Boeing's second-quarter gross jumped 18% from a twelvemonth agone to $19.75 billion, but the institution inactive reported a nett nonaccomplishment of $149 million, oregon 25 cents per share. That compares with a nett of $160 million, oregon 32 cents per share, a twelvemonth ago, with the astir caller quarter's results weighed down by charges successful Boeing's defence and abstraction units.

On an adjusted basis, the institution reported a nonaccomplishment of $390 million, oregon 82 cents per share.

Boeing's defense, abstraction and information portion reported a nonaccomplishment of $527 cardinal for the quarter, down from a nett a twelvemonth ago.

The institution said it took a $257 cardinal nonaccomplishment connected a launch delay of its crewed Starliner spacecraft, a $189 nonaccomplishment owed to higher accumulation costs connected its T-7A Red Hawk trainer pitchy and a $68 cardinal nonaccomplishment connected accumulation delays connected its MQ-25 program.