Boeing shares (BA) are still down ahead of Wednesday’s session close after it reported its first-quarter earnings results this morning. Topping revenue estimates by posting $16.57 billion, the aerospace manufacturer narrowed its forecasted losses per share to $1.13. Boeing is juggling priorities as it wades through a deluge of issues brought on by concerns over its manufacturing quality and numerous federal probes.
Melius Research Managing Director of Aerospace, Defense & Space Robert Spingarn joins Market Domination to lay out why Boeing is looking "a little bit more complex of a recovery story" than previously forecasted.
"The two most important things are the 737 and 787 production rates. Those are the two cash cows in the commercial airplane business and they need to stabilize those aircraft programs and raise those rates to generate cash," Spingarn explains. "Then they have to improve the defense business, and that did come in a little better than expected today, so that was one of the positives. But it’s still a negative cash flow business and it’s got to swing to positive by 2026 in order to hit that $10 billion number."
Spingarn also touches on Boeing’s bid to acquire Spirit Aerosystems (SPR).
#news #youtube #Boeing
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
