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Boeing posted a net loss of 343 million dollars in the first quarter of 2024, lower than the 414 million in the same period of 2023. Revenue stood at 16.569 billion dollars (-8%) from 17.921 billion dollars in first quarter of 2023,
Slowdown in 737 production
In a statement, CEO Dave Calhoun said that «Our first quarter results reflect the immediate actions we have taken to slow 737 production to improve quality» adding that «we will take the time necessary to strengthen our management systems of quality and safety”.
Free cash flow stood at $3.9 billion compared to $800 million last year as a result of fewer aircraft deliveries.
In the first quarter it acquired net orders for 125 aircraft including 85 737-10 Max for American Airlines and 29 777X including those of Ethiopian Airlines. 83 aircraft delivered (130 last year) – including 13 787 Dreamliners, 67 Boeing 737s and 3 767s – with an order book of 448 billion dollars equivalent to over 5,600 airplanes.
On Wall Street the stock gained 3.6% at the start but has lost over 30% since the beginning of the year
