Boeing stock slides after tumultuous quarter headlined by 737 Max crisis
Source: Yahoo! Finance
Yahoo Finance
Boeing stock slides after tumultuous quarter headlined by 737 Max crisis
Pras Subramanian • Senior Reporter
Wed, Apr 24, 2024, 4:11 PM EDT • 3 min read
Boeing (BA) stock slid 2.8% on Wednesday after the company reported losses that were narrower than fear, but still reported negative free cash flow of nearly $4 billion as a result of the 737 Max crisis that has shaken the aerospace giant.
Boeing reported a first quarter core, or adjusted, loss per share of $1.13, narrower than the $1.72 estimated, on revenue of $16.57 billion, which was above forecasts of $16.25 billion but an 8% decline from a year ago.
The plane maker also reported negative operating cash flow of $3.36 billion, compared with a loss of $318 million last year, and negative free cash flow of $3.92 billion, compared with a loss of $787 million last year. Boeing said the results reflect lower commercial delivery volume and did not give updated production plans.
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