Boeing Posts 34-Cent Adjusted Loss Per Share in Third Quarter
BA is trading near its 52-week low of $176.77 (7.2% above the low).
Summary
Boeing reported a third-quarter adjusted loss of 34 cents a share and a GAAP loss of $0.26 per share, a fresh quarterly result that resets the earnings picture after Q2's narrower $428 million loss on $24.6 billion of revenue. Third-quarter revenue came in at $24.19 billion, with Commercial Airplanes revenue of $10.72 billion, down 3%, Defense, Space & Security revenue of $7.94 billion, up 15%, and Global Services revenue of $5.57 billion, up 4%. Operating cash flow was $1.5 billion and free cash flow $0.5 billion, and the company's backlog reached a record $745 billion. The loss lands against a backdrop of production friction: July deliveries fell to 53 jets from 64 in June, and the FAA ordered inspections of 471 737 MAX jets in August. Offsetting that, the company has stacked up defense wins, including a Navy F/A-XX award worth $20 billion in late September and an Air Force IDIQ worth up to $131.23 billion in August. Guidance will determine whether the loss is a one-off or a deeper margin problem.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Boeing's Q3 GAAP loss was $0.26 per share; operating cash flow was $1.5 billion and free cash flow $0.5 billion, with total backlog a record $745 billion.
At the time of this announcement, BA was trading at $189.45 on NYSE in the Manufacturing sector, with a market capitalization of approximately $148.8B. The 52-week trading range was $176.77 to $254.35. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.