Traders had been seemingly cheered that Boeing reported optimistic working money move of $81 million — solely the second quarter within the final three years that the corporate didn’t burn by money. What’s extra, the corporate mentioned it is on monitor to keep up optimistic money move for the yr.
“Whereas we’re making significant progress, we now have extra work forward,” mentioned CEO Dave Calhoun.
General Boeing reported internet earnings of $160 million excluding particular fees for the second quarter, down 72% from a yr earlier. And although income of $16.9 billion was off simply 2% from the prior yr, that was $900 million lower than analysts had forecast.
The adjusted loss got here in at of 37 cents a share for the quarter, excluding particular gadgets. That is far worse than the forecast of a 14 cent loss from analysts surveyed by Refinitiv, and the 40 cent a share revenue it earned a yr in the past.