Boeing Q1 Loss Smaller Than Expected

Boeing reported a first-quarter net loss of $7 million, significantly smaller than analysts expected, indicating a strong operational recovery after years of crises and the COVID-19 pandemic. CEO Kelly Ortberg highlighted momentum across the business, aiming to strengthen culture and restore trust while growing a nearly $700 billion backlog. Boeing burned $1.5 billion in cash, primarily due to investments in expanding production capabilities for its 787, military jets, and a new 737 MAX line. The company is also working on certifying the 737 MAX 7 and 10 variants and the 777X, with test flights for a new 737 MAX engine anti-icing system underway. Revenue in Boeing's commercial jet division rose 13%, while its defense and space division saw a 50% increase in earnings, partly due to the successful launch of NASA's Artemis II mission with Northrop Grumman. Boeing Global Services also saw a 3% increase in operating income, though its margin dropped slightly after the sale of its Boeing — Jeppesen subsidiary.