Aircraft maker The Boing Company (NYSE: BA) reported a wider loss for the first quarter of 2022 as the company’s revenues declined 8%. The results also missed analysts’ estimates.
On an adjusted basis, core net loss widened to $2.75 per share in the March quarter from $1.53 per share in the comparable period of last year. Analysts had predicted a smaller loss for the latest quarter. Unadjusted net loss was $1.22 billion or $2.06 per share, compared to a loss of $537 million or $0.92 per share in the first quarter of 2021.
The bottom line was impacted by an 8% decrease in revenues to $13.9 billion, which also fell short of expectations. However, there was continued increase in the production and deliveries of 737 aircraft.
Check this space to read management/analysts’ comments on Boeing’s Q1 2022 results
Boeing’s stock declined early Wednesday following the earnings announcement, after closing the previous session lower. The stock has lost 20% since the beginning of the year.
