As it falls deep into the red due to the grounding of the 737 MAX, CEO Dennis Muilenburg says if the plane's reentry to service is further delayed, a temporary stoppage to 737 production could be preferable to slowing the line.
, which could come with furloughs of workers. In the best-case scenario, Boeing says it’s planning to gradually raise production of 737s in 2020 from 42 a month to 57.$4.9 billion aftertax charge
It’s only the second quarterly loss in the past ten years for a company that has turned itself into a Wall Street darling, devoting roughly 95% of operating cash flow in recent years to a steadily rising dividend and share buybacks. Boeing’s results were “decent,” Cowen analyst Cai von Rumohr said in a research note, with free cash flow drain better than feared and the 787 program continuing its strong performance. Excluding the charge for the 737 MAX, which amounted to $8.74 per share, core earnings per share would have been $2.92, better than his estimate of $1.58.
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