A Boeing 737 MAX jet lands at Boeing Field in Seattle, Washington after a Federal Aviation Administration (FAA) test flight on June 29, 2020.
Jason Redmond | AFP | Getty Images
Boeing reported first quarter results on Wednesday before the bell as investors looked for clues about the pace of recovery from the Covid-19 pandemic.
Here are the numbers:
- Loss per share: $ 1.53. Analysts had expected a loss per share of $ 1.16, according to Refinitiv, but it is immediately unclear whether the numbers are comparable.
- Revenue: $ 15.22 billion versus $ 15.02 billion analyst expects, according to Refinitiv.
Boeing struggled with the pandemic’s impact on travel and jetliner demand, as well as the extended landing of its best-selling 737 Max aircraft after 346 people were killed in two fatal accidents. The regulators have started Lifting the ground in November 2020.
However, demand for new aircraft has increased this year as a rebound in travel demand encouraged some large customers like this one United Airlines and Southwest Airlines return to plans update their fleets and prepare for growth. In March, Boeing’s new plane Orders exceeded cancellations For the first time since 2019.
Investors will look to Boeing’s prospect for the pace of aircraft delivery, which is critical as airlines and other customers pay most of the aircraft price on handover. Boeing resumed shipments of its 787 wide-body aircraft last month after reporting production issues last year. Executives will likely be more detailed about how many of the jets are expected to be delivered this year.
The Chicago-based company is also likely to provide an update on the grounding of some 737 Max jetliners due to electrical problems.
Boeing shares are up around 13% so far this year, compared to up 11.5% in the S&P 500.
Boeing executives will call to discuss the findings at 10:30 a.m. ET.
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