Boeing holds cash flow forecast after quarterly loss
US aircraft maker Boeing reported a wider-than-expected second quarter loss on Wednesday but still forecast a return to positive cash flow, citing improving supply chains and its healthy order book.
The company’s adjusted core loss for the three months to June 30 was 37 cents per share, down from a profit of 40 cents a year earlier. Estimates were for a loss per share of 14 cents.
Group revenues fell 1.7% year on year to $16.7bn against forecasts of $17.57 billion. However, operating cash flow turned positive at around $100m with Boeing adding the it would be cash flow positive this year.
Boeing's order backlog now totals around 4,200 commercial aircraft, the company said, with a list value of around $372bn.
Reporting by Frank Prenesti at Sharecast.com