U.S. manufacturer has increased production and deliveries of its 737 MAX amid supplier bottlenecks
Boeing Co. said its quarterly profit fell as it awaited regulatory approval to resume deliveries of its 787 Dreamliner and charges continued to mount at its military and space unit.
The company said its second-quarter results showed it was making progress in stabilizing its operations after a series of production and regulatory problems have prevented it from delivering commercial aircraft on time and without quality issues.
“We do believe we’re in the middle of a momentum shift,” Chief Executive David Calhoun said in a call with analysts Wednesday.
Boeing shares were recently trading around even, having climbed more than 3% at one point.
Production of the 737 MAX has reached 31 planes a month, up from 16 a year ago, as it deals with supply-chain challenges such as engine shortages that are also affecting rival Airbus SE, which also reported earnings Wednesday. Boeing has said it stepped up 737 deliveries in June.
Excerpt from WSJ
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