Latest Boeing Earnings Fail To Trigger Stock Rebound – Investing.com
- Date: 29-Oct-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Latest Boeing Earnings Fail To Trigger Stock Rebound – Investing.com
For the past three years, aviation and defense giant Boeing (NYSE:) has been on a long road to recovery after taking a severe blow to its credibility. The company’s latest , released Wednesday, show that there are still many hurdles in the U.S. industrial giant’s way before it can claim to have overcome its problems.
Despite being buoyed by demand for its 737 MAX and cargo planes, Boeing told investors during its earnings call that it suffered a quarterly loss, mainly due to 787 Dreamliner production issues. And the news came despite Boeing having sold more jets than rival Airbus Group (PA:) (OTC:) this year
The company’s adjusted loss of $0.60 a share and revenue of $15.3 billion both missed the averages estimates. Though the Chicago-based aircraft maker burned through much less cash than what Wall Street had expected, the figure got a big boost from a $1.3-billion tax refund during the quarter.
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