Boeing Earnings: Hope Springs Eternal
On Wednesday, Boeing (NYSE: BA) released yet another subpar earnings report. While operating cash flow turned slightly positive, revenue sank 2% year over year and the company recorded a core loss of $0.37 per share.
Boeing executives see better times ahead. To some extent, that's justified, as the resumption of 787 deliveries and the continued effort to clear out 737 MAX inventory should return the aerospace giant to sustainably positive free cash flow soon. Nevertheless, Boeing stock continues to look like a dubious investment.
Last quarter, Boeing's key commercial-airplanes division delivered 121 jets, up more than 50% year over year. However, the segment's revenue inched up just 3.4%, as the long-running pause in 787 Dreamliner deliveries led to a negative mix shift. Additionally, Boeing appears to be suffering pricing pressure from its efforts to jump-start 737 MAX sales after the troubled jet was cleared to return to service in late 2020.
Source Fool.com
