Boeing posts bigger loss than expected as Air Force One costs weigh on results
📰 source: cnbc_topnews · 💼 business
boeing reported a bigger-than-expected loss in the second quarter, citing a $280 million charge on its air force one program. the aircraft manufacturer posted an adjusted loss of 76 cents per share, worse than the 30 cents loss analysts expected. revenue came in at $24.56 billion, slightly above estimates and up 8% from a year ago.
commercial aircraft deliveries rose 14% to 171 planes, and free cash flow turned positive at $631 million, far exceeding the expected $177 million burn. ceo kelly ortberg said in a staff note that while progress is being made, "you're never done until you're done." the first air force one delivery is still expected in 2028.
upcoming milestones include certification of the 737 max 7, the smallest model, and potentially the 737 max 10 and 777x. ortberg emphasized safety, quality, and on-time performance as key to improving competitiveness.
why it matters: boeing's air force one losses and delayed certifications signal ongoing risks, but improving cash flow and deliveries show operational recovery.
source: cnbc_topnews
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