American aircraft manufacturer Boeing generated positive cash flow in the fourth quarter for the first time since 2019, when problems accelerated in the form of crashes with the scandalous 737 Max model.
The positive cash flow can be seen earlier than Boeing's own forecasts predicted. Deliveries of the now repaired 737 Max, which has returned to service after aviation authorities halted operations following two crashes with the model, have now started.
One-time costs contributed to a significant drop in earnings due to another problematic model, the 787 Dreamliner. Production problems with the model that have prevented Boeing from delivering to customers have led to costs of $3.5 billion.
Adjusted earnings were -7.69 dollars per share, compared to the consensus estimate of -0.19 dollars per share from S&P Global Market Intelligence. Revenue came in at $14.8 billion, compared to the consensus estimate of $16.7 billion.
”2021 was a year of transition,” summarizes CEO David Calhoun, referring to a pandemic that was challenging for the aviation industry.
Boeing's stock traded up about 1 percent in US pre-market trading on Wednesday.
Source: Nyhetsbyrån Direkt
