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Boeing Reports Q3 Sales Beat, Safe Return Of 737 Max Remains Top Priority

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Boeing Reports Q3 Sales Beat, Safe Return Of 737 Max Remains Top Priority

Boeing Co (NYSE: BA) reported third-quarter earnings of $1.45 per share, which may not compare to the analyst consensus estimate of $2.08. This would be a 59.5% decrease over earnings of $3.58 per share from the same period last year.

The company reported quarterly sales of $19.98 billion, which beat the analyst consensus estimate of $19.55 billion by 2.20%. This is a 20.54% decrease over sales of $25.146 billion the same period last year.

"Our top priority remains the safe return to service of the 737 MAX, and we're making steady progress," said Boeing CEO Dennis Muilenburg in a statement. "We've also taken action to further sharpen our company's focus on product and services safety, and we continue to deliver on customer commitments and capture new opportunities with our values of safety, quality and integrity always at the forefront."

Boeing said that for the purposes of the third-quarter results, the company has assumed regulatory approval of the 737 MAX return to service begins in the fourth quarter and that it will gradually increase the 737 production rate from 42 per month to 57 per month by late 2020.

On Tuesday evening, the company announced Stan Deal will succeed Kevin McAllister as president and CEO of Boeing Commercial Airplanes and Ted Colbert will succeed Deal as president and CEO of Boeing Global Services.

Boeing shares were trading higher by 1% at $340.50 in Wednesday’s pre-market session. The stock has a 52-week high of $446.01 and a 52-week low of $292.47.

Related Links:

Has The 737 Max Put Boeing's Dividend At Risk?

Boeing Execs Respond To Leaked Messages As Congress Watches Closely

Photo by Steve Lynes via Wikimedia

Posted-In: 737 MAX Dennis MuilenburgEarnings News Management Top Stories Pre-Market Outlook Best of Benzinga

 

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