Plane maker posts 28% jump in first-quarter revenue, smaller net loss.
Boeing Co. BA 1.81%increase; green up pointing triangle said a new production problem expected to delay deliveries of its 737 jets to airlines this summer won’t disrupt the plane maker’s overall financial outlook for the year.
The Arlington, Va., aerospace company said Wednesday revenue rose 28% to $17.9 billion in the first quarter from the same period the previous year, beating analysts’ estimates. Boeing said it delivered 130 commercial aircraft in the three months ended March 31 as demand for new airliners remained robust.
Despite the emergence this month of a supplier’s 737 manufacturing slip-up, the company said Wednesday it plans to increase production of the narrow-body jets to 38 a month later this year, up from the current rate of 31.
Shares in Boeing rose 84 cents to $203.03 each on Wednesday, while broader U.S. stock indexes were mixed.
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Boeing has said the new manufacturing problem, related to certain fittings at the rear of the planes’ fuselage, will delay a number of deliveries of 737s in coming months. Airline and airplane-leasing customers tend to pay most of planes’ purchase price at delivery.
Excerpt from WSJ
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