Boeing Reports Smaller Loss Amid Rising Aircraft Deliveries and Anticipated 737 Max Certifications
Boeing narrows loss as aircraft deliveries rise, says it expects new 737 Max certifications this year
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Boeing reported a narrower loss of $7 million for Q1 2024, with revenues reaching $22.22 billion, exceeding expectations. The company anticipates certification for the 737 Max 7 and Max 10 later this year, with deliveries expected to start in 2027.
- 01Boeing's Q1 2024 loss narrowed to $7 million from a previous loss of $31 million.
- 02Revenue for the quarter was $22.22 billion, surpassing analyst expectations.
- 03The commercial aircraft unit delivered 143 airplanes, a 10% increase from last year.
- 04Boeing expects certification for the 737 Max 7 and Max 10 later this year.
- 05The defense business revenue rose 21% to $7.6 billion.
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Boeing has reported a narrower-than-expected loss of $7 million for the first quarter of 2024, reflecting improvements across its business units. The company's revenue reached $22.22 billion, exceeding analyst estimates of $21.78 billion. This marks a 14% increase in sales compared to the same period last year. Boeing's commercial aircraft unit delivered 143 airplanes, a 10% increase from the previous year, despite still posting an operational loss. CEO Kelly Ortberg, who took over in August 2024, expressed pride in the team's resilience amid ongoing challenges. Boeing is also optimistic about the certification of the long-delayed 737 Max 7 and Max 10 aircraft, expected later this year, with deliveries slated to begin in 2027. Additionally, the defense segment saw a 21% revenue increase to $7.6 billion.
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