The Strategist

Boeing's net loss doubles since the start of 2022

04/28/2022 - 10:18

Boeing Co., based in the United States, one of the world's major producers of aircraft, spacecraft, and military equipment, reported a net loss of $1.242 billion in the third quarter, more than double its loss a year ago, according to corporate data.

Experts expected a loss of $0.19, diluted loss per share was $2.06 versus $0.92 for January-March 2021. Adjusted loss per share was $2.75.

At that, Boeing's quarterly revenue dropped 8% to $13.991 billion. Analysts projected the $16.13 billion amount. In pre-market trade on Wednesday, Boeing shares were down 3.5 percent.

According to the report, Boeing has nearly returned to service the 737 MAH aircraft, and the 737 family's production rate continues to accelerate. During the second quarter, production is scheduled to increase to 31 aircraft per month.

Because of a reappraisal of the time required for certification, new deliveries of the 777-9 have been delayed until 2025. Boeing estimates that the cost of the 777-9 delivery stoppage (from the second quarter until the restart of deliveries) will be $1.5 billion.