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Boeing’s Earnings Take a Hit as Trade Fights Hurt Wide-Body Sales

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Slowed production of the 737 MAX will cost Boeing an additional $900 million, on top of the $2.7 billion already booked over the life of the program

By Doug Cameron Updated Oct. 23, 2019 9:55 am ET Boeing Co. BA 3.70% said its profits more than halved in the latest quarter and plans to cut production of its 787 Dreamliner jet next year, but still expects the 737 MAX to return to service by the end of the year.

Trade tensions and tariffs have this year slowed the growth in passengers that’s underpinned huge jet orders for Boeing and Airbus SE over the past decade. Boeing also has pushed back the planned entry into service of its larger 777X jetliner into 2021 after problems with its General Electric Co. engines ruled out a planned first flight this year.

Sales fell 21% to $20 billion. Boeing handed over just 63 jetliners in the September quarter compared with 190 in the same period last year, with analysts estimating it is piled up around 350 undelivered MAX jets, as well as the 380 grounded in March.

 

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And the CEO will get a BIG bonus.

Gooood luck getting people to step foot inside the Boeing 'Auto-Dive' MAX...😂 When it comes to human lives: HumansComputers

Gee, don't all the jobs Boeing either farmed out or put in cheap non-union states so they get lesser-quality results make you passengers feel warm 'n cozy ? That's MANAGEMENT for ya.....

Good time to buy their stock?

Boeing has to solve the 737 Max 8 issues fast before they lose more businesses to Airbus.

“Trade fights”?

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