Fri, Apr 26, 2019
Planemaker Says It Does Not Yet Know The Full Impact Of The Grounding
Boeing reported first-quarter revenue of $22.9 billion, Generally Accepted Accounting Principles (GAAP) earnings per share of $3.75 and core earnings per share (non-GAAP) of $3.16, reflecting lower 737 deliveries partially offset by higher defense and services volume. Boeing generated operating cash flow of $2.8 billion and paid $1.2 billion of dividends.
Overall, company revenue was down two percent, but core operating earnings for the first quarter fell 21 percent, according to the company's earnings report.
The previously issued 2019 financial guidance does not reflect 737 MAX impacts. Due to the uncertainty of the timing and conditions surrounding return to service of the 737 MAX fleet, new guidance will be issued at a future date. Boeing is making steady progress on the path to final certification for a software update for the 737 MAX, with over 135 test and production flights of the software update complete. The company continues to work closely with global regulators and our airline partners to comprehensively test the software and finalize a robust package of training and educational resources.
"Across the company, we are focused on safety, returning the 737 MAX to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public," said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg. "As we work through this challenging time for our customers, stakeholders and the company, our attention remains on driving excellence in quality and performance and running a healthy sustained growth business built on strong, long-term fundamentals."
The quarter's operating performance was highlighted by key defense wins, strong commercial widebody performance and orders, continued robust services growth, and receiving Embraer shareholder approval for the proposed strategic partnership.
(Source: Boeing. Image from file)
More News
Say Altitude Used by ATC to ascertain an aircraft's specific altitude/flight level. When the aircraft is climbing or descending, the pilot should state the indicated altitude round>[...]
Aero Linx: European Air Law Association (EALA) EALA was established in 1988 with the aim to promote the study of European air law and to provide an open forum for those with an int>[...]
From 2023 (YouTube Version): The Life, Death, Life, Death, and Life of a Glorious Warbird In 1981, business-owner Jim Tobul and his father purchased a Chance-Vought F4U Corsair. Mo>[...]
Also: USCG Retires MH-65 Dolphins, Irish Aviation Authority, NATCA Warns FAA, Diamond DA42 AD This summer, history enthusiasts will have a unique opportunity to experience World Wa>[...]
Also: WACO Kitchen Bails, French SportPlane Mfr to FL, Dynon-Advance Flight Systems, Innovation Preview Bobby Bailey, a bit of a fixture in sport aviation circles for his work with>[...]
ANN's Daily Aero-Term (05.01.24): Say Altitude
See All