Boeing confirmed its acquisition of Spirit AeroSystems, a major supplier of aerostructures.
Boeing reduced its annual 737 delivery target from 500 to 450 planes due to supply chain issues and the impact of the Covid-19 pandemic.
Boeing's Q3 2023 earnings surpassed Wall Street's expectations with a profit of $1.12 per share and revenue of $20.37 billion.
Boeing, the American multinational corporation that designs, manufactures, and sells airplanes, reported its third-quarter earnings for 2023. The company's earnings surpassed Wall Street's expectations, with a profit of $1.12 per share, compared to the expected $0.98 per share. Boeing's revenue also exceeded predictions, reaching $20.37 billion against the anticipated $19.34 billion. The company's commercial airplane division played a significant role in this financial success, with 85 deliveries in the quarter, up from 79 in the previous quarter.
However, Boeing also announced a reduction in its annual 737 delivery target from 500 to 450 planes. The company cited supply chain issues and the ongoing impact of the Covid-19 pandemic as reasons for this adjustment. Despite this, Boeing's stock rose by 3% in premarket trading following the announcement of the earnings report.
In addition to its earnings report, Boeing also confirmed its acquisition of Spirit AeroSystems, a major supplier of aerostructures. This move is expected to help Boeing control costs and improve production efficiency. The financial details of the deal were not disclosed.
The financial details of the Spirit AeroSystems acquisition were not disclosed, making it difficult to assess the full impact of the deal on Boeing's financials.
Boeing's defense, space and security unit saw a 2% increase in revenue from a year earlier to $6.8 billion.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(100%)
None Found At Time Of
Publication
Fallacies
(100%)
None Found At Time Of
Publication
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (85%)
CNBC is owned by NBCUniversal News Group, a division of NBCUniversal, which is in turn owned by Comcast. Comcast has been known to donate to both Democratic and Republican parties, which could potentially introduce bias.
Boeing cut its 2023 delivery forecast for the 737 MAX by 25 planes.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(100%)
None Found At Time Of
Publication
Fallacies
(100%)
None Found At Time Of
Publication
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (80%)
The Wall Street Journal is owned by News Corp, a company known for its conservative political leanings. This could potentially introduce bias in their reporting.
Boeing's shares fell 3% in premarket trading after the results were announced.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(100%)
None Found At Time Of
Publication
Fallacies
(100%)
None Found At Time Of
Publication
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (85%)
Yahoo Finance is owned by Yahoo, which is in turn owned by Verizon Communications. Verizon has been known to donate to both Democratic and Republican parties, which could potentially introduce bias.