* Boeing reports quarterly results before the market opens on Wednesday.
* Analysts polled by LSEG expect a loss of $1.76 per share and revenue of $16.23 billion.
* Executives will hold an earnings conference call at 10:30 a.m. ET.
Boeing’s upcoming quarterly update on Wednesday will offer the most comprehensive assessment yet of the repercussions stemming from the in-flight detachment of a door plug from a 737 Max 9 aircraft in January. This incident triggered yet another expensive safety dilemma for the company.
Experts anticipate that the producer of the 737 will declare its seventh consecutive quarterly deficit and acknowledge a higher-than-anticipated cash depletion due to the incident. This occurrence has invited heightened federal oversight and contributed to a reduction in production rates, constraining the global availability of new aircraft in preparation for the bustling summer travel period.
Here is what Wall Street expects for Boeing for the period that ended March 31, according to estimates from LSEG:
Loss per share: $1.76 adjusted
Revenue: $16.23 billion
Boeing has faced obstacles in scaling up production, particularly of its top-selling 737 Max aircraft. Following the incident where the door plug dislodged from the Alaska Airlines Max 9 on January 5th, the Federal Aviation Administration has prohibited Boeing from expanding output. Additionally, the FAA has identified numerous instances of noncompliance within Boeing's supply chain.
There are numerous uncertainties surrounding Boeing's outgoing CEO Dave Calhoun, who announced in March his intention to step down by the end of the year.
Among these uncertainties: When will Boeing stabilize its manufacturing process and boost production of the 737 Max and other aircraft? When will Boeing designate a new CEO? What will be the financial toll of the current crisis on Boeing? When might Boeing finalize an agreement to repurchase fuselage manufacturer
Spirit AeroSystems?
