On June 29, 2020, a Boeing 737 MAX jet lands after a Federal Aviation Administration (FAA) test flight at Boeing Field in Seattle, Washington.
Jason Redmond | AFP | Getty Images
Boeing is set to report first-quarter results before the bell rings on Wednesday as investors seek clues about the pace of recovery from the Kovid-19 pandemic.
Here’s what Wall Street expected:
- Loss per share: $ 1.16 expected by analysts according to refinitiv.
- Revenue: $ 15.02 billion as expected by analysts according to Refinitive
Boeing is reeling from the impact of the pandemic on travel and demand for jetliners, as well as the extended grounding of the best-selling 737 MAX aircraft, killing 346 people in two fatal accidents. Regulators began lifting the grounding in November 2020.
But demand for new aircraft has become higher this year, as a return to travel demand has encouraged some big customers, such as United Airlines and Southwest Airlines, to update their fleet and prepare for development. In March, Boeing’s new aircraft ordered its cancellation for the first time since 2019.
Investors will seek Boeing’s approach to the delivery speed of the aircraft, which is important because airlines and other customers pay the bulk of the price of an aircraft when the manufacturer hands them over. Last month Boeing resumed delivery of its wide-bodied 787 aircraft after reporting production problems last year and is likely to expand further on how many more jets are expected to be handed over to officials this year.
The Chicago-based company is also likely to provide an update on the grounding of some 737 MAX jetliners due to electrical issues.
Boeing shares are up nearly 13% so far this year, compared to 11.5% in the S&P 500.
Boeing officials are set to discuss the results on a 10:30 pm ET call.
This story is developing. Please check back for updates.
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