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   AVIATION      Aviation echo, airline-related news      717 messages   

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   Message 383 of 717   
   Aviation HQ to All   
   Multi billion loss for Boeing   
   26 Oct 22 16:18:07   
   
   MSGID: 2:292/854 151c2125   
   TZUTC: 0200                     
   Boeing took a multi-billion dollar loss in the third quarter, mainly due to   
   losses in the defense program due to higher costs that could not be passed on,   
   because the delivery prices were already fixed. This is evident from the   
   quarterly figures of the American aircraft manufacturer on Wednesday.   
       
   The adjusted loss per share from core activities was $6.18 in the quarter.   
   Last year, this loss was $0.60. Analysts had expected earnings of $0.13 per   
   share for the quarter.   
       
   Revenue grew 4% year-on-year to nearly $16.0 billion. Analysts had expected an   
   increase to $17.9 billion.   
       
   In its Defense, Space & Security division, sales fell 20 percent to $5.3   
   billion and profit for the third quarter of 2021 flipped from $436 million to   
   a loss of $2.8 billion. This concerns programs with a fixed agreement on   
   prices at which Boeing will deliver, while in the past quarter the costs for   
   production, deliveries and technology were much higher than budgeted.   
       
   At the Commercial Airplanes division, the operating loss decreased from $693   
   million to $643 million. Here, sales rose 40 percent to $6.2 billion.   
       
   Boeing has an order book of $381 billion. That includes 4,300 commercial   
   aircraft.   
       
   The debt position remained stable at $57.2 billion at the end of the third   
   quarter.   
       
   Boeing shares appear to start 1.0 percent higher today.   
      
   --- DB4 - 20220519   
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