Boeing Stumbles Again With Weak Q1 Earnings
If investors thought the arrival of COVID-19 vaccines and the recertification of the 737 MAX had put Boeing (NYSE: BA) in the clear, the aerospace giant's first-quarter earnings report disabused them of that notion. Indeed, Boeing posted another quarterly loss and continued bleeding cash rapidly. And while the 737 MAX family captured some much-needed orders last quarter, Boeing's revenue, earnings, and cash flow are unlikely to recover to the peak levels of a few years ago.
For much of 2019 and 2020, the 737 MAX grounding and resulting halt in deliveries caused Boeing to lose money and burn cash rapidly. The onset of the COVID-19 pandemic in early 2020 added to its woes by torpedoing demand for wide-body jets. Most notably, the company burned $6.6 billion over the last nine months of 2019 and another $19.7 billion in 2020.
In the first quarter of 2021, Boeing delivered 63 737s. While that's a far cry from its pre-crisis delivery pace, it represented a big improvement over 2019 and 2020.
Source Fool.com
