The Boeing Company (NYSE: BA) on Wednesday announced financial results for the first quarter of 2024, reporting a narrower net loss, on an adjusted basis. Revenues dropped 8%.
Core loss, adjusted for special items, narrowed to $1.13 per share in the March quarter from $1.27 per share in the year-ago quarter. On an unadjusted basis, the net loss was $355 million or $0.56 per share in Q1, compared to a loss of $425 million or $0.69 per share in the first quarter of 2023. Revenues decreased 8% year-over-year to $16.57 billion.
“Our first quarter results reflect the immediate actions we’ve taken to slow down 737 production to drive improvements in quality. We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future., and technologies,” said Boeing’s CEO Dave Calhoun.