Boeing's shares have dropped significantly following statements from CFO Brian West that the company will continue to burn cash throughout the second quarter and the full year. The decline in share price, which reached a 7.5% drop, is attributed to ongoing production and supply-chain issues, including 87 supply-chain constraints, as well as regulatory delays in China. West mentioned that there won't be a step up in Q2 commercial jet deliveries compared to Q1, and that the company is unlikely to generate cash for the full year. Additionally, the China Civil Aviation Administration (CAAC) has asked for more certification, including battery validation, which is expected to impact cash flow and deliveries. The cash flow concerns have also raised fears of a potential debt downgrade for Boeing. The company is also dealing with a new mechanical problem, though it is not responsible for fixing it.
✈️ BOEING SHARES MAINTAIN LOSSES, LAST DOWN 7.2% IN AFTERNOON TRADING; S&P ANALYST SAYS BOEING'S CASH FLOW SITUATION IS 'INCREMENTALLY WORSE' THAN THEIR EXPECTATIONS $BA https://t.co/1YcMAT7DcO
BOEING SHARES MAINTAIN LOSSES, LAST DOWN 7.2% IN AFTERNOON TRADING; S&P ANALYST SAYS BOEING'S CASH FLOW SITUATION IS 'INCREMENTALLY WORSE' THAN THEIR EXPECTATIONS
Boeing $BA drops -7.5% as the company reveals they will be burning cash as orders fall. https://t.co/cg615fb3jm https://t.co/U5ayuNpNEL
Boeing shares drop on China delivery halt and cash flow concerns https://t.co/cbvcqeObxD https://t.co/qZYIF3Qq8N
Boeing shares tumble as company lowers 2024 cash forecast https://t.co/cvsvMbwEvL
Boeing’s cash flow-woes hit company’s bonds, raising fears of a debt downgrade https://t.co/nZFMdj8rYt
Boeing will continue to burn cash during the quarter and for the FULL YEAR $BA https://t.co/XObUpixFQH
Shares of Boeing $BA are falling, after they discovered a new and potentially explosive mechanical problem - but at least it’s not one it’s on the hook to fix. Its cash burn rate, meanwhile, is a different story. #Boeing #StockMarket https://t.co/GXUsqtVGab
Boeing’s finance chief says it is unlikely the company will generate cash for the full year as it deals with cascading production and supply-chain issues https://t.co/rolB8KBz53 https://t.co/rolB8KBz53
Boeing Stock Is Getting Hit. Here’s Why. https://t.co/7T8mkPeImB
News Alert | "Expects to be in better phase end of June," says Boeing CFO Brian West Here's what he said on China, 87 supply-chain constraints, Q2 margins and more👇 @Boeing https://t.co/9MKi79qwWW
Shares of Boeing dropped after CFO Brian West said the embattled planemaker will continue to burn cash in the second quarter and in the full year https://t.co/7EOyFerBx3
Boeing’s CFO says it is unlikely the company will generate cash for the full year as it deals with cascading production and supply-chain issues https://t.co/f75OxlJkC2
Boeing Shares Hit Turbulence After CFO Says Q2 Deliveries Will Be Similar To Q1 Amid Regulatory Limbo In China https://t.co/ciJZPRZr4q
BOEING CFO SAYS THERE WON'T BE A STEP UP IN Q2 COMMERCIAL JET DELIVERIES COMPARED TO Q1 $BA
$BA | Boeing CFO: China’s CAAC Asked For More Certification - Battery Validation Request Seen Having Impact On Cash, Delivery
$BA #Boeing still has a way to go before hitting bottom. https://t.co/SK57ZkgDmq