Behind Boeing's 'shocking’ profit: Barron's on MarketWatch
Commercial aerospace giant Boeing reported a surprise profit for the second quarter of 2021. Shares, for now, are moving higher.
Shares are up 4.8% with about an hour left in trading Wednesday, while the S&P 500 is up 0.2% and the Dow Jones Industrial Average has declined 0.1%. On the company’s conference call which began at 10:30 a.m. Eastern time, CEO Dave Calhoun didn’t address a new aircraft directly, but did cover some of the requirements needed in a new jet. The next airplane is “not going to be dramatically different with one exception, and that is everything sustainability,” said Calhoun. “[It] will have to meet some serious sustainability tests.”
Despite any looming strategic decisions which might weigh on investor sentiment, the quarter is a good result considering the problems Boeing has been dealing with including Covid-19, the 737 MAX grounding and recertification as well as 787 quality problems which have stopped deliveries of those jets.
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