Boeing pulled off an impressive feat in what it was able to do financially. The firm shipped the most planes since 2018 and reduced their quarterly losses. In the three months ending June 30, the aerospace colossus delivered 150 airplanes. This success underscores a remarkable comeback from the years of disasters that began with the 737 Max tragedies. Boeing’s second quarter delivery rate was the highest it’s been since 2018. It was the last year the company posted a full-year profit.
Boeing’s overall top line production soared by 35% to $22.75 billion, compared to $16.87 billion in the same quarter last year. The company’s adjusted loss for the quarter was $433 million, or $1.24 per share. This loss was an improvement compared to analysts’ expectations, reflecting a positive trend in Boeing’s recovery efforts.
CEO Kelly Ortberg sought to emphasize the positive steps taken over the past few months. He stated, “Change takes time, but we’re starting to see a difference in our performance across the business.” Ortberg’s comments come as investors eagerly anticipate further insights into Boeing’s production outlook and overall stability.
Investors and analysts will be looking closely at Ortberg and the executive team during a scheduled call on Tuesday at 10:30 a.m., where they are expected to discuss future production targets and strategies for navigating ongoing global challenges.
Since the first fatal crash of the 737 Max in 2018, Boeing has suffered through one calamity after another. These challenges have in many ways crippled its day to day operations and public image. Facing these challenges, the start-up remains hopeful on its future direction. Ortberg remarked, “If we continue to tackle the important work ahead of us and focus on safety, quality and stability, we can navigate the dynamic global environment and make 2025 our turnaround year.”