Categories AlphaGraphs, Earnings, Industrials

Boeing (BA) slips to a loss in Q1 on COVID-19, 737 MAX grounding

The Boeing Company (NYSE: BA) reported its financial results for the quarter ended March 31, 2020 today. The bottom line was wider than the analysts’ expectations while the top-line missed consensus estimates.

Boeing slipped to a loss in the first quarter of 2020 from a profit last year, due to the impacts of COVID-19 and the 737 MAX grounding. As the pandemic continues to reduce airline passenger traffic, Boeing sees a significant impact on the demand for new commercial airplanes and services, with airlines delaying purchases for new jets, slowing delivery schedules, and deferring elective maintenance.

Boeing (BA) Q1 2020 earnings review

The company also announced leadership and organizational restructuring to streamline roles and responsibilities and plans to reduce overall staffing levels with a voluntary layoff program and additional workforce actions as necessary. Boeing believes it will be able to obtain sufficient liquidity to fund its operations.

The company is actively exploring all the available options for accessing the additional liquidity as this will be critical for Boeing and the aerospace manufacturing sector to bridge to recovery.

Past Performance

Boeing Q4 2019 Earnings Results

BA Q3 2019 Earnings Performance

Most Popular

Stitch Fix (SFIX) Stock: Will the innovative biz model survive virus-led slump?

The business world is still struggling to come out of the virus-induced slowdown, but it seems almost every retail segment benefited from the pandemic at some point. The vaccination drive

General Mills (GIS): Three factors that are expected to help drive growth for the food company going forward

Shares of General Mills Inc. (NYSE: GIS) were up 3.2% on Wednesday after the company delivered better-than-expected results for the first quarter of 2022. Net sales rose 4% year-over-year to

IPO Alert: Allvue Systems sets IPO terms, to raise around $290 million

It is estimated that the alternative investments industry has expanded at a compound annual rate of 10.2% over the past ten years and had $11 trillion in assets under management

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top