_boeing-expected-to-burn-over-364-billion-in-cash-in-q1-due-to-lower-737-deliveries-shared-drop-3.jpg "Boeing Expected to Burn Over $4 Billion in Cash in Q1 Due to Lower 737 Deliveries. Shared Drop 3%. from remote control plane Video Screenshot Preview")
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⏲ Duration: 0:31
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✓ Published: 21-Mar-2024
👁 View: 4.3M times
✓ Published: 21-Mar-2024
Description:
Boeing will burn more cash in the first quarter than previously expected, between $4 and 4.5 billion, due to lower deliveries and production cuts. To improve manufacturing quality, the company will limit 737 production to less than 38 planes per month, the FAA's maximum. Reduced shipments, scaled-back manufacturing, and stress on working capital contribute to a higher anticipated cash outflow for the quarter. Shares dropped 3% pre-market on the news.
Boeing will burn more cash in the first quarter than previously expected, between $4 and 4.5 billion, due to lower deliveries and production cuts. To improve manufacturing quality, the company will limit 737 production to less than 38 planes per month, the FAA's maximum. Reduced shipments, scaled-back manufacturing, and stress on working capital contribute to a higher anticipated cash outflow for the quarter. Shares dropped 3% pre-market on the news.
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