Why doesn’t Boeing’s quarterly take off
Boeing posts loss-making results in the first quarter of 2022 and loses 4 percent in pre-market. All the details
Stock Boeing, a US company that produces aircraft, today lost 4 percent in the premarket on the stock exchange (at 160.39 dollars) following the publication of the results, at a loss, in the first quarter of 2022.
Expenses amounted to $ 1.2 billion, attributed to supplier costs, technical problems at the new Air Force One being developed (it's the plane carrying the President of the United States), and the impact of the war in Ukraine on supply chains.
LOSSES, INCOME AND EXPENSES
Boeing reported a quarterly loss of $ 2.75 per share, compared to $ 1.53 for the same period in 2021. Revenue was $ 13.99 billion, up from $ 15.22 a year ago. Due to the higher inflation rate, the company said it spent 660 million on Air Force One VC-25, plus another 367 million on the T-7 Red Hawk trainer aircraft.
THE STOP TO 777X
Boeing also announced that it has suspended production of the 777X (the new version of the 777, a wide-body airliner) until 2023 due to authorization problems that delay the aircraft's entry into service and sluggish demand. The costs of the program amount to 1.5 billion.
Last month, Reuters reported that the Federal Aviation Administration (the US government agency that monitors and regulates the civil aviation sector) warned Boeing that the existing certification programs for the 777X and 737 MAX were "out of date. and no longer reflect the activities of the program ".
THE RETURN, MAYBE, OF THE 787 DREAMLINER
The company said it has submitted a certification program to US regulators for the 787 Dreamliner, another wide-body airliner. The move could favor the resumption of deliveries of the vehicle, stopped for almost a year due to inspections, which cost the company 5.5 billion.
THE ASSESSMENTS OF THE ANALYSTS
Boeing said it was on track to generate positive cash flow for 2022 by increasing deliveries of the narrow-body 737 MAX airplane.
Nick Cunningham, an analyst at Agency Partners, commented on the quarterly speaking instead of "another terrible series of results" and a "general sense of disorder", emphasizing the growth of net debt, above 45 billion.
Rob Stallard, analyst at Vertical Research Partners, spoke of "another terrible quarter" for Boeing.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/boeing-risultati-primo-trimestre-2022/ on Wed, 27 Apr 2022 13:46:50 +0000.