A Boeing 737 MAX jet lands following a Federal Aviation Administration (FAA) take a look at flight at Boeing Field in Seattle, Washington on June 29, 2020.
Jason Redmond | AFP | Getty Images
Boeing on Wednesday posted its sixth consecutive quarterly loss however stated it expects 2021 to be a turning point for its enterprise as extra individuals are vaccinated towards Covid-19.
The producer had a web lack of $561 million for the primary three months of 2021 on income of $15.2 billion, 10% decrease than final yr however forward of analysts’ estimates.
Here are the numbers:
- Loss per share: $1.53. Analysts had anticipated a per-share lack of $1.16, based on Refinitiv, however it’s instantly unclear if the numbers are comparable.
- Revenue: $15.22 billion, vs. $15.02 billion anticipated by analysts, based on Refinitiv.
Boeing has been struggling from the pandemic’s influence on journey and jetliner demand in addition to the prolonged grounding of its best-selling 737 Max plane after two deadly crashes killed 346 individuals. Regulators began lifting the grounding in November 2020.
But demand for brand spanking new planes has ticked larger this yr as a rebound in journey demand inspired some huge prospects like United Airlines and Southwest Airlines to return to plans to update their fleets and put together for progress. In March, Boeing’s new plane orders outpaced cancellations for the primary time since 2019.
Investors might be on the lookout for Boeing’s outlook on the tempo of plane deliveries, that are key as a result of airways and different prospects pay the majority of a airplane’s worth when producers hand them over. Boeing final month resumed deliveries of its wide-body 787 planes after reporting manufacturing issues final yr and executives are possible to provide extra element on how lots of the jets it expects handy over this yr.
The Chicago-based firm can also be possible to offer an replace on the grounding of some 737 Max jetliners resulting from electrical issues.
Boeing shares are up about 13% up to now this yr, in contrast with an 11.5% achieve in the S&P 500.
Boeing executives are set to debate outcomes on a 10:30 a.m. ET name.
This story is growing. Please verify again for updates.
