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Boeing shares plunge following cautious production guidance
Boeing shares experienced a significant decline, dropping approximately 10% on Tuesday, marking one of the company's worst trading days since 2020. The selloff followed third-quarter financial results and cautious guidance from CEO Kelly Ortberg regarding production ramp-ups.
Boeing reported third-quarter revenue of approximately $24.2 billion, a 4% increase year-over-year. However, the company reported an adjusted loss per share of $0.34, which was wider than the $0.21 analysts had expected. The commercial airplanes division reported a loss of roughly $700 million, significantly exceeding market expectations.
CEO Kelly Ortberg stated that the company aims to stabilize 737 MAX production at 47 units per month before attempting to reach a rate of 52 aircraft per month, a goal now pushed to the second half of 2027. Production delays have been attributed to manufacturing challenges with wings and fuselages, specifically in Kansas. Despite these hurdles, Boeing maintains a record order backlog of $745 billion and aims to achieve $10 billion in annual free cash flow by 2029.
Entities
737 MAX · BTIG · Boeing · FAA · JPMorgan · Kansas · Kelly Ortberg · Seth M. Seifman · Stryker Corp. · Wall Street
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 6 SOURCES] The company plans to stabilize 737 MAX production at 47 units per month. www.ftnews.sk · news.mydrivers.com · de.euronews.com · gr.euronews.com · hu.euronews.com · +1 more
- [● 2 SOURCES] The adjusted loss per share was $0.34. www.ftnews.sk · www.tradingview.com
- [● 6 SOURCES] Production delays are linked to wing and fuselage manufacturing in Kansas. de.euronews.com · gr.euronews.com · hu.euronews.com · it.euronews.com · www.ftnews.sk · +1 more
- [● 10 SOURCES] Boeing shares fell by approximately 10% on Tuesday. www.ftnews.sk · news.mydrivers.com · www.abcbourse.com · www.aripaev.ee · de.euronews.com · +5 more
- [● 3 SOURCES] Boeing's third-quarter revenue was approximately $24.2 billion. www.ftnews.sk · news.mydrivers.com · www.abcbourse.com
- [● 2 SOURCES] Boeing has a record order backlog of $745 billion. www.ftnews.sk · www.abcbourse.com
- [● 7 SOURCES] Boeing aims to reach $10 billion in annual free cash flow by 2029. news.mydrivers.com · de.euronews.com · gr.euronews.com · hu.euronews.com · it.euronews.com · +2 more
- [● 9 SOURCES] Boeing expects to reach 52 737 MAX aircraft per month in the second half of 2027. www.ftnews.sk · news.mydrivers.com · de.euronews.com · gr.euronews.com · hu.euronews.com · +4 more
- [● 9 SOURCES] Boeing plans to stabilize 737 MAX production at 47 units per month. www.ftnews.sk · news.mydrivers.com · de.euronews.com · www.fortunegreece.com · gr.euronews.com · +4 more