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Boeing costs for 737 Max jump, profit falls short in 3Q
Boeing is reporting a big profit shortfall for the third quarter after costs related to the troubled 737 Max rose by $900 million. The Chicago company said Wednesday that it expects regulatory review to begin in the fourth quarter. A few weeks ago, Boeing Co. predicted the plane would be flying around that time. Net income was $1.17 billion, or $2.05 per share. Per-share earnings were $1.45 when nonrecurring items are removed, far short of the $2.04 Wall Street was looking for, according to a poll by Zacks Investment Research. Revenue was $19.98 billion, topping forecasts analyst expectations $19.34 billion.
CHICAGO (AP) — Boeing is reporting a big profit shortfall for the third quarter after costs related to the troubled 737 Max rose by $900 million.
The Chicago company said Wednesday that it expects regulatory review to begin in the fourth quarter. A few weeks ago, Boeing Co. predicted the plane would be flying around that time.
Net income was $1.17 billion, or $2.05 per share. Per-share earnings were $1.45 when nonrecurring items are removed, far short of the $2.04 Wall Street was looking for, according to a poll by Zacks Investment Research.
Revenue was $19.98 billion, topping forecasts analyst expectations $19.34 billion.