An aerial photo shows Boeing 737 Max planes parked on the tarmac at the Boeing factory in Renton, Washington, March 21, 2019.
Lindsey Wasson | Reuters
Boeing Wednesday’s quarterly report will be the most comprehensive account yet of the fallout from the in-flight loss of a door plug from a 737 Max 9 plane in January, an accident that triggered another costly safety crisis for the constructor.
Analysts expect 737 maker to report seventh straight quarterly loss and burn through more cash than expected due to crash, which sparked closer federal scrutiny and slowdown production, limiting the global supply of new planes ahead of the busy summer travel season.
Here’s what Wall Street expects for Boeing for the period ended March 31, according to LSEG estimates:
- Loss per share: $1.76 adjusted
- Income: $16.23 billion
Boeing has been hamstrung in ramping up production, particularly of its best-selling 737 Max planes. After the Alaska Airlines Max 9’s door exploded on January 5, the Federal Aviation Administration barred Boeing from increasing production. The FAA also said it found numerous non-compliance issues throughout Boeing’s supply chain.
Questions abound for Boeing’s lame-duck CEO Dave Calhoun, who announced in March that he would step down by the end of the year.
Among those questions: When will Boeing stabilize its production line and increase production of the 737 Max and other planes? When will Boeing appoint a new CEO? How much will the current crisis cost Boeing? When could Boeing finalize a deal to buy the fuselage maker Spirit AeroSystems.
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