Categories Earnings, Industrials

Boeing posts Q1 earnings amid 737 MAX crisis, missing estimates

The Boeing Company (NYSE: BA) is staring at one the most challenging time in its history, with the credibility of the aircraft maker being questioned after the recent crashes that resulted in the grounding of the 737 MAX jets across the world. In the backdrop of all this, Boeing announced its first-quarter 2019 earnings on Wednesday before the opening bell.

Ever since last month’s deadly crash, airline carriers have been cutting orders for the aircraft that was touted as the most advanced model ever built by Boeing.

The Boeing 737 MAX 8 aircraft
(COURTESY: Boeing)

Quarterly revenue slipped 2% to $22.9 billion, while earnings from operations slid 18% to $2.4 billion with an operating margin of 10.3%. Net earnings fell 13% to $2.1 billion, while profit slipped 10% to 3.75 per diluted share.

On a non-GAAP basis, core operating earnings slumped 21% to about $2 billion, with core earnings falling 13% to $3.16 per share.

The market expected a double-digit decline in earnings in the commercial airline division, with the consensus estimate for net earnings at $3.33 per share on revenues of $23.51 billion. Both numbers missed these estimates.

Boeing (BA) Q1 2019 Earnings Infographic

“Across the company, we are focused on safety, returning the 737 MAX to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public,” said Boeing Chairman, President and CEO Dennis Muilenburg.

In the second week of April, the Boeing stock fell after the US-listed aircraft maker announced its decision to cut production of its 737 MAX aircraft — sending shares of aerospace groups Meggitt, Melrose and Safran down as well.

This came right after Boeing started the month with its decision to cut its monthly 737 aircraft production by about 20%. Due to this uncertainty, Boeing deferred from giving an update on its future. “Due to the uncertainty of the timing and conditions surrounding return to service of the 737 MAX fleet, new guidance will be issued at a future date,” read an official statement from Boeing.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%

Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss

Key metrics from Nike’s (NKE) Q2 2025 earnings results

NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net

FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips

Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,

Comments

  1. Pingback: masumintl.com
  2. Pingback: masumintl
  3. Pingback: ItMe.Xyz
  4. Pingback: ItMe.Xyz
  5. Pingback: masumintl.com
  6. Pingback: masumintl.com
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top