Losses across the board for Boeing
Boeing
posted its quarterly earnings leaving Wall Street unimpressed by its
performance. The planemaker reported a fourth consecutive quarterly loss. In
Q3, revenues fell 30% from last year’s figures to $14.1 billion.
Wall Street was looking for losses per share of $2.47, but
the actual figures came in at $1.39. During the same time last year, Boeing
reported an EPS of $1.45.
During the statement, Boeing reiterated the idea that it is
looking to cut costs to keep itself afloat. By the end of 2021, around 130,000
workers will be dismissed. However, the production forecast is the same, and
737 MAX deliveries are to be resumed by the end of 2020.
Following the report, Boeing stock price went down 1.2%.
Sources:
thestreet.com, finance.yahoo.com
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