A year after the deadly Lion Air crash, Boeing faces a 40% decline in quarterly profit and 22% drop in revenue when it reports earnings.
Nearly a year after the deadly Lion Air Flight 610 crash, Boeing Co. faces an on-year 40% decline in profit and 22% drop in revenue for its third quarter.
According to a Reuters report on Friday, the FAA is concerned it was misled by Boeing about a key safety feature on the 737 Max, the latest news casting doubt about the certification process. Revenue: The analysts surveyed by FactSet expect sales of $19.50 billion for Boeing. That would be down from $25.15 billion a year ago. Estimize sees revenue of $19.80 billion for Boeing.
In the note, the Goldman analysts also lowered their third-quarter profit expectations for Boeing to $2.24 a share, from a previous estimate of $2.51 a share, keeping their price target at $370 a share. “We believe there is risk that Boeing will take an additional charge on the 737 Max as the ‘early’ has slipped to the right, although we would expect there was some buffer in the charge,” the analyst said.
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