Investors were likely cheered that Boeing reported positive operating cash flow of $81 million — only the second quarter in the last three years that the company did not burn through cash. What’s more, the company said it’s on track to maintain positive cash flow for the year.
“While we are making meaningful progress, we have more work ahead,” said CEO Dave Calhoun.
Overall Boeing reported net income of $160 million excluding special charges for the second quarter, down 72% from a year earlier. And though revenue of $16.9 billion was off just 2% from the prior year, that was $900 million less than analysts had forecast.
The adjusted loss came in at of 37 cents a share for the quarter, excluding special items. That’s far worse than the forecast of a 14 cent loss from analysts surveyed by Refinitiv, and the 40 cent a share profit it earned a year ago.
Better news on the 737 Max
Read More:Boeing reports larger than expected loss, but it still counts as good news
2022-07-27 14:47:00