Production woes plague earnings for Boeing, RTX and Spirit Aero
© Reuters. FILE PHOTO: A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. REUTERS/Benoit Tessier/File PhotoAll three companies are expected to report losses in their third-quarter results as they struggle to resolve manufacturing defects on their most profitable aircraft and engine products.
Boeing is expected to report a loss of $2.23 per diluted share, compared with a loss of $5.49 a year ago. Spirit is projected to report a loss of $1.03 a share, compared to a loss of $1.22 a year earlier, according to LSEG data. “Some of these customer concessions might come in the form of free services, which are likely staggered and may drag out the cash recognition,” Bank of America analyst Ron Epstein said.
“It was already looking like it was going to be a struggle to hit that 2023 guidance. It's more of a struggle now, even at the low end,” Vertical's Stallard said.
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