An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019.
Lindsey Wasson | Reuters
Boeing’s quarterly report on Wednesday will be the most complete accounting to date of the fallout from the midair loss of a door plug from a 737 Max 9 plane in January, an accident that sparked another costly safety crisis for the manufacturer.
Analysts expect the maker of the 737 to report its seventh consecutive quarterly loss and that it burned through more cash than expected because of the accident, which has brought in more federal scrutiny and a production slowdown, crimping the world’s supply of new planes ahead of the busy summer travel season.
Here is what Wall Street expects for Boeing for the period that ended March 31, according to estimates from LSEG:
- Loss per share: $1.76 adjusted
- Revenue: $16.23 billion
Boeing has been hamstrung in ramping up production, especially of its best-selling 737 Max planes. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing output. The FAA also said it found numerous issues of noncompliance along Boeing’s supply chain.
Questions abound for Boeing’s lame duck CEO Dave Calhoun, who announced in March that he would step down by year-end.
Among those questions: When will Boeing stabilize its production line and increase production of the 737 Max and other planes? When will Boeing appoint a new CEO? How much will the current crisis cost Boeing? When might Boeing finalize a deal to buy back fuselage maker Spirit AeroSystems.
This is breaking news. Please check back for updates.
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