Trending News

Blog Post

Market

Boeing posts first profit in almost two years, propelled by 737 MAX deliveries By Reuters 


2/2

© Reuters. FILE PHOTO: A Boeing logo is seen at the company’s facility in Everett, Washington, U.S., Jan. 21, 2020. REUTERS/Lindsey Wasson/File Photo

2/2

(Reuters) -Boeing Co on Wednesday posted its first profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel bookings following an increase in global COVID-19 vaccinations.

The 737 MAX is integral to Boeing (NYSE:)’s financial recovery, as the U.S. planemaker scrambles to recoup billions of dollars in lost sales from the pandemic, and deals with production-related structural defects of its bigger, more profitable 787 planes.

Chief Executive Officer David Calhoun said the company now plans to keep staffing levels stable at around 140,000 employees, after previously targeting a reduction to 130,000 by the end of 2021.

Boeing said it is currently building 16 737 MAX jets per month. The company has said it would lift the jet’s output to 31 a month by early 2022.

Boeing’s core operating profit was $755 million in the second quarter ended June 30, compared with a loss of $3.32 billion a year earlier.

Revenue rose 44% to about $17 billion.

Analysts on average expected Boeing to report a quarterly loss of $454.8 million on revenue of $16.54 billion, according to IBES data from Refinitiv.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Related posts

Leave a Reply

Required fields are marked *