Latest news with #BoeingCo
News18
2 days ago
- Business
- News18
Boeings 2Q loss narrows, revenue rises, topping Wall Streets expectations
Virginia, Jul 29 (AP) Boeing's second-quarter loss narrowed and revenue improved as the aircraft manufacturer delivered more commercial planes in the period. Boeing Co lost USD 611 million, or 92 cents per share, for the three months ended June 30. A year earlier it lost USD 1.44 billion, or USD 2.33 per share. Adjusting for one-time gains, Boeing lost USD 1.24 per share. This was better than the loss of USD 1.54 per share that analysts surveyed by Zacks Investment Research expected. Shares rose more than 2 per cent before the market open on Tuesday. Revenue climbed to USD 22.75 billion from USD 16.87 billion, mostly due to 150 commercial deliveries compared with 92 deliveries in the prior-year period. The performance topped Wall Street's estimate of USD 21.86 billion. Boeing has been dealing with a variety of issues over the past few years. On Sunday Boeing said it expects more than 3,200 union workers at three St Louis-area plants that produce US fighter jets to strike after they rejected a proposed contract that included a 20 per cent wage increase over four years. The International Machinists and Aerospace Workers union said the vote by District 837 members was overwhelmingly against the proposed contract. The existing contract was to expire at 11:59 pm. Central time Sunday, but the union said a 'cooling off" period would keep a strike from beginning for another week, until Aug 4. Last fall, Boeing offered a general wage increase of 38 per cent over four years to end a 53-day strike by 33,000 aircraft workers producing passenger aircraft. In June the National Transportation Safety Board said that its 17-month long investigation found that lapses in Boeing's manufacturing and safety oversight, combined with ineffective inspections and audits by the Federal Aviation Administration, led to a door plug panel flying off Alaska Airlines flight 1282, which was a Boeing 737 Max 9 aircraft, last year. Boeing said in a statement at the time that it will review the NTSB report and will continue working on strengthening safety and quality across its operations. The Max version of Boeing's bestselling 737 airplane has been the source of persistent troubles for the company since two of the jets crashed, one in Indonesia in 2018 and another in Ethiopia in 2019, killing a combined 346 people. In May the Justice Department reached a deal allowing Boeing to avoid criminal prosecution for allegedly misleading US regulators about the Max before the two crashes. Boeing was also in the news last month when a 787 flown by Air India crashed shortly after takeoff and killed at least 270 people. Investigators have not determined what caused that crash, but so far they have not found any flaws with the model, which has a strong safety record. (AP) SKS SCY view comments First Published: July 29, 2025, 20:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Yahoo
2 days ago
- Business
- Yahoo
Boeing Commercial Airplane Revenue Recovers, Backlog Grows To $619 Billion
Boeing Co. (NYSE:BA) on Tuesday reported stronger-than-expected revenue for the second quarter, driven by a sharp rise in commercial aircraft deliveries. However, its adjusted loss per share was wider than Wall Street projections. The aerospace giant posted an adjusted loss of $1.24 per share, missing analyst expectations of a 94 cent loss. GAAP loss per share came in at 92 cents. Revenue climbed 35% year over year to $22.75 billion, beating the Street estimate of $20.20 billion. This was primarily due to higher delivery volume and improved operational performance. Also Read: Boeing delivered 150 commercial airplanes in the quarter, up 63% from a year ago. The total company backlog rose to $619 billion, including more than 5,900 commercial aircraft orders valued at $522 billion. The company reported operating cash flow of $227 million and a free cash outflow of $200 million. Segment Performance Commercial Airplanes: Revenue surged 81% year over year to $10.87 billion. Operating margin improved to -5.1%, compared to -11.9% a year ago. The 737 program stabilized at 38 aircraft per month, while the 787 ramped up to seven. The segment booked 455 net orders, including major deals with Qatar Airways and British Airways. Defense, Space & Security: Revenue rose 10% to $6.62 billion. Operating margin turned positive at 1.7%, reversing a 15.2% loss margin last year. The unit secured a U.S. Air Force contract for T-7A aircraft, began testing the MQ-25 Stingray for the Navy, and grew backlog to $74 billion, 22% of which came from international customers. Global Services: Revenue increased 8% to $5.28 billion. Operating margin expanded to 19.9%, up from 17.8%, boosted by a favorable mix and key contract wins. Boeing completed the sale of its Gatwick MRO facility and secured a P-8A support contract with the South Korean Navy. Cash and marketable securities totaled $23.0 billion, down from $23.7 billion in the prior quarter, primarily due to debt repayments and cash flow usage. Consolidated debt stood at $53.3 billion. Boeing continues to maintain access to $10 billion in undrawn credit facilities. View more earnings on BA The company also recorded a $445 million charge tied to its May 2025 non-prosecution agreement with the U.S. Department of Justice, booked under unallocated items. 'Our fundamental changes to strengthen safety and quality are producing improved results as we stabilize our operations and deliver higher-quality airplanes,' said president and CEO Kelly Ortberg in a statement. 'As we look to the second half of the year, we remain focused on restoring trust and making continued progress in our recovery while operating in a dynamic global environment.' Analyst Sentiment During the quarter, Boeing's turnaround gained traction. In April, Goldman Sachs reiterated a Buy rating, citing minimal impact from the China delivery freeze, which affects only about 2% of the company's backlog. Aircraft initially destined for China were expected to be redirected to fast-growing markets like India. Meanwhile, Bernstein upgraded the stock to Outperform, highlighting Boeing's progress toward its target production rates—38 737 MAX aircraft per month by July and seven 787s per month by year-end. In July, the FAA advanced certification of the long-delayed 777-9. Air India also completed a safety inspection of its 737 and 787 fleets, finding no issues. Additionally, Boeing expanded its aerospace footprint with the successful launch of O3b mPOWER satellites, supporting next-generation global broadband infrastructure. Price Action: At last check Tuesday, BA shares were trading lower by 2.34% to $230.88. Read Next:Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? BOEING (BA): Free Stock Analysis Report This article Boeing Commercial Airplane Revenue Recovers, Backlog Grows To $619 Billion originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Boeing's 2Q loss narrows and revenue rises, topping Wall Street's expectations
Boeing's second-quarter loss narrowed and revenue improved as the aircraft manufacturer delivered more commercial planes in the period. Boeing Co. lost $611 million, or 92 cents per share, for the three months ended June 30. A year earlier it lost $1.44 billion, or $2.33 per share. Adjusting for one-time gains, Boeing lost $1.24 per share. This was better than the loss of $1.54 per share that analysts surveyed by Zacks Investment Research expected. Shares rose more than 2% before the market open on Tuesday. Revenue climbed to $22.75 billion from $16.87 billion, mostly due to 150 commercial deliveries compared with 92 deliveries in the prior-year period. The performance topped Wall Street's estimate of $21.86 billion. Boeing has been dealing with a variety of issues over the past few years. On Sunday Boeing said that it expects more than 3,200 union workers at three St. Louis-area plants that produce U.S. fighter jets to strike after they rejected a proposed contract that included a 20% wage increase over four years. The International Machinists and Aerospace Workers union said the vote by District 837 members was overwhelmingly against the proposed contract. The existing contract was to expire at 11:59 p.m. Central time Sunday, but the union said that a 'cooling off' period would keep a strike from beginning for another week, until Aug. 4. Last fall, Boeing offered a general wage increase of 38% over four years to end a 53-day strike by 33,000 aircraft workers producing passenger aircraft. In June the National Transportation Safety Board said that its 17-month long investigation found that lapses in Boeing's manufacturing and safety oversight, combined with ineffective inspections and audits by the Federal Aviation Administration, led to a door plug panel flying off Alaska Airlines flight 1282, which was a Boeing 737 Max 9 aircraft, last year. Boeing said in a statement at the time that it will review the NTSB report and will continue working on strengthening safety and quality across its operations. The Max version of Boeing's bestselling 737 airplane has been the source of persistent troubles for the company since two of the jets crashed, one in Indonesia in 2018 and another in Ethiopia in 2019, killing a combined 346 people. In May the Justice Department reached a deal allowing Boeing to avoid criminal prosecution for allegedly misleading U.S. regulators about the Max before the two crashes. Boeing was also in the news last month when a 787 flown by Air India crashed shortly after takeoff and killed at least 270 people. Investigators have not determined what caused that crash, but so far they have not found any flaws with the model, which has a strong safety record. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 days ago
- Business
- Bloomberg
Boeing Stems Cash Outflow as Aircraft Deliveries Pick Up Pace
Boeing Co. managed to slow a cash outflow in the second quarter, indicating that a turnaround initiated by Chief Executive Officer Kelly Ortberg a year ago is paying off as the company delivers more aircraft. The planemaker consumed just $200 million in the three months, far less than the $1.8 billion outflow analysts had expected. The company also reported a smaller-than-expected loss for the quarter as well as revenue that beat estimates.
Associated Press
2 days ago
- Business
- Associated Press
Boeing's 2Q loss narrows and revenue rises, topping Wall Street's expectations
Boeing's second-quarter loss narrowed and revenue improved as the aircraft manufacturer delivered more commercial planes in the period. Boeing Co. lost $611 million, or 92 cents per share, for the three months ended June 30. A year earlier it lost $1.44 billion, or $2.33 per share. Adjusting for one-time gains, Boeing lost $1.24 per share. This was better than the loss of $1.54 per share that analysts surveyed by Zacks Investment Research expected. Shares rose more than 2% before the market open on Tuesday. Revenue climbed to $22.75 billion from $16.87 billion, mostly due to 150 commercial deliveries compared with 92 deliveries in the prior-year period. The performance topped Wall Street's estimate of $21.86 billion. Boeing has been dealing with a variety of issues over the past few years. On Sunday Boeing said that it expects more than 3,200 union workers at three St. Louis-area plants that produce U.S. fighter jets to strike after they rejected a proposed contract that included a 20% wage increase over four years. The International Machinists and Aerospace Workers union said the vote by District 837 members was overwhelmingly against the proposed contract. The existing contract was to expire at 11:59 p.m. Central time Sunday, but the union said that a 'cooling off' period would keep a strike from beginning for another week, until Aug. 4. Last fall, Boeing offered a general wage increase of 38% over four years to end a 53-day strike by 33,000 aircraft workers producing passenger aircraft. In June the National Transportation Safety Board said that its 17-month long investigation found that lapses in Boeing's manufacturing and safety oversight, combined with ineffective inspections and audits by the Federal Aviation Administration, led to a door plug panel flying off Alaska Airlines flight 1282, which was a Boeing 737 Max 9 aircraft, last year. Boeing said in a statement at the time that it will review the NTSB report and will continue working on strengthening safety and quality across its operations. The Max version of Boeing's bestselling 737 airplane has been the source of persistent troubles for the company since two of the jets crashed, one in Indonesia in 2018 and another in Ethiopia in 2019, killing a combined 346 people. In May the Justice Department reached a deal allowing Boeing to avoid criminal prosecution for allegedly misleading U.S. regulators about the Max before the two crashes. Boeing was also in the news last month when a 787 flown by Air India crashed shortly after takeoff and killed at least 270 people. Investigators have not determined what caused that crash, but so far they have not found any flaws with the model, which has a strong safety record.
