Boeing Stock Slumps Amid 737 MAX Woes
Boeing Co.'s stock slipped under pressure after its latest quarterly update detailed weaker commercial aircraft deliveries, higher cash burn, and continued production issues with the 737 MAX program.
The company reported revenue of $16.57 billion in Q1 2024, down from $17.91 billion in Q1 2023, as commercial deliveries slowed amid ongoing quality and safety checks on the 737 MAX family.
Boeing posted a core operating loss of $388 million in Q1 2024 compared to a core operating loss of $527 million in Q1 2023, reflecting incremental improvement in defense and services but still a challenging backdrop in commercial aerospace.
The group's free cash flow turned negative, with Boeing reporting a free cash outflow of $3.36 billion in Q1 2024 versus a free cash inflow of $3.29 billion a year earlier.