Boeing posts first annual loss in more than two decades as 737 Max crisis drags on

Business

A Boeing 737 MAX 9 is pictured outside the factory in Renton, Washington.

Stephen Brashear | Getty Images

Boeing is set to report fourth quarter earnings before the bell Wednesday.

Here’s what Wall Street is expecting:

  • EPS: $1.47 according to Refinitiv analyst estimates
  • Revenue: $21.67 billion according to Refinitiv analyst estimates.

Boeing is struggling through a crisis stemming from two crashes of its 737 Max that killed all 346 people aboard the flights. The manufacturer this month suspended production of the planes, which regulators grounded in March after the second of the two fatal flights.

The company recently reported its worst annual sales figures in decades and it handed the crown to the world’s biggest aircraft manufacturer to its rival Airbus.

Boeing’s new CEO Dave Calhoun, who took the reins this month, is set to face investors on his first earnings call at the helm of the company and is expected to detail the company’s recovery plan and what it will cost. Boeing last week said it expects regulators to sign off on the planes mid-year, but the FAA has said it could come before that. Analysts expect Boeing to take another charge to compensate airlines for the grounding.

This is breaking news. Check back for updates.

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