The American aircraft manufacturer Boeing reported on Tuesday a significantly worse-than-expected result and also a sales disappointment. Costly weapons development explains the loss, according to the interim report. The company also made a loss of $ 1.1 billion on Donald Trump's Air Force One order.
According to S&P Global Market Intelligence, expectations were that Boeing was supposed to make a profit of $935 million, but the result was a loss of $3.3 billion, the report shows.
Revenue of $16 billion was also lower than expectations of $17.9 billion.
Boeing said the unexpected loss was due to the impact of fixed-price defense development programs, including the KC-46 refueling aircraft and an Air Force One order for two Boeing 747s made during former President Donald Trump's time in the White House.
”We are strongly focused on developing these programs, managing risk, and delivering to our customers and their important missions,” writes CEO Dave Calhoun.
Boeing shares rose 1.6 percent in pre-market trading.
Source: Dagens Industri
