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1 Article
Source: Reuters

Boeing abandons financial outlook, sees $1 billion in extra cost on...

Thursday 12:39 GMT

(Reuters) - Boeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybacks and said lowered production due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in five months had cost it at least $1 billion so far.

Chicago-based Boeing is now reckoning with a blow to its reputation and the financial cost of getting the planes back in the air. It met sharply lowered Wall Street profit estimates, largely due to stopping deliveries of the 737 MAX jets and a slowdown in production.

1 Article
Source: Reuters

Boeing abandons financial outlook, stops buybacks after 737 MAX...

Thursday 12:39 GMT

(Reuters) - Boeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybacks and announced $1 billion in increased costs due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in five months.

Boeing said it would be issuing a new financial forecast when it has more clarity around the issues surrounding the 737 MAX. In January, it said it expected full-year revenue of $109.5 billion to $111.5 billion and core earnings per share between $19.90 and $20.10.


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