Boeing Posts 76c Adjusted Loss Per Share in Q2
BA sits 22% above its 52-week low of $176.77.
Summary
Boeing reported an adjusted loss of 76 cents per share for the second quarter, missing core loss per share estimates. The loss was partly driven by charges related to the VC-25B program. This is the first concrete earnings figure following a string of positive order news, including major deals with Bangladesh, China, and Vietnam, and the Spirit AeroSystems acquisition. The loss comes despite a 14% revenue increase in Q1 and aggressive production ramp-up plans for the 737 MAX. The market will now assess whether operational challenges are offsetting the strong demand pipeline. Full details and management commentary are expected to clarify the drivers of the loss.
Updates
· SEC 10-Q — Boeing's Q2 net loss attributable to common shareholders was $530 million, or $0.67 per share, on revenue of $24.56 billion; operating cash flow for the first half was $1.185 billion.
At the time of this announcement, BA was trading at $215.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $166.7B. 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 9 out of 10. Source: Dow Jones Newswires.