Boeing Suffers Huge Earnings Miss

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Written By: Eno Eteng (MSTA)
Reviewed By: Alejandro Zambrano
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    Summary:
  • Boeing badly missed earnings estimates amid negative impact from its grounded 737 Max fleet and drop in its airplane sales.

Boeing missed earnings estimates in its 2nd quarter earnings results released today, suffering its biggest quarterly loss in decades after the worldwide grounding of its 737 Max fleet. After reporting a loss of $5.82 per share (including charges accrued from the 737 Max) versus market estimates of a $1.85 loss per share, Boeing slumped at market open to an intraday low of $366. Revenues also fell by 35% to $15.75 billion, and free cash flow stood at -$1.01 billion.

These awful figures are coming on the back of a huge drop in its airplane sales reported earlier in the month, and this brought commercial aircraft revenue down by 66% to $4.72 billion.

The company has declined to provide guidance as to its full year expectations. The company expects the grounded fleet to return to service in Q4 2019.Don’t miss a beat! Follow us on Twitter.

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Written By: Eno Eteng (MSTA)
Reviewed By: Alejandro Zambrano

Eno is a certified financial technician and member of the UK Society of Technical Analysts. He loves to trade and write about stocks, Forex, and CFDs. Since 2009, he has consulted several financial companies as a trader and strategy developer. His work can be seen on several forex blogs and trading educational websites.

Published by
Written By: Eno Eteng (MSTA)
Reviewed By: Alejandro Zambrano