The Boeing outcomes can be found – listed here are the numbers
The Boeing 737 Max aircraft prepares to land after a test flight in Seattle, Washington, on September 30, 2020.
Mike Siegel | The Seattle Times | Bloomberg via Getty Images
Boeing reported fourth quarter and 2020 results ahead of the opening bell on Wednesday as it detailed the damage from the extended grounding of its 737 Max and the Covid-19 pandemic.
Here are the numbers:
- EPS: With a loss of $ 15.25 per share, it's immediately unclear whether that compares to a loss of $ 1.80 per share, which is in line with Refinitiv's consensus estimates.
- Revenue: $ 15.30 billion versus $ 15.07 billion projected by Refinitiv estimates
The company will outline its prospects for a rebound in another challenging year for aviation as new travel restrictions and coronavirus infections curb already depressed demand for flights.
Wall Street analysts expect an adjusted loss per share of USD 1.80 on sales of USD 15.07 billion for the last three months of the year, according to estimates by the refinitive consensus. For 2020 as a whole, sales are expected to decline 24% to USD 57.94 billion.
Boeing aircraft deliveries fell to their lowest level in decades, and cancellations hit records last year as the 737 Max continued to expand after two fatal accidents and a slump in travel requirement due to the pandemic. Analysts expect Boeing to post a record net loss of over $ 4.1 billion for the year.
Boeing executives will call them to discuss their findings with analysts at 10:30 am ET.
The Chicago-based aircraft manufacturer is trying to turn a page after two crashes of its 737 Max that killed all 346 on board. The US aviation authorities approved the best-selling aircraft for flight again in November. This enabled Boeing to deliver around 400 new jets that were manufactured in its Seattle plant but could not be handed over to customers. Customers. American Airlines, United Airlines, Alaska Airlines, Aeromexico and Brazil's Gol are among the airlines that have received Max Jets so far.
Deliveries are vital to Boeing as airlines pay most of the aircraft price.
Investors also want to know Boeing's outlook for wide-body aircraft. Production of its 787 Dreamliner aircraft, jets used for international long-haul aircraft, has already ceased. This type of travel has been hardest hit by the pandemic.
Dave Calhoun, Boeing CEO, forecast in April that travel demand will not return to 2019 levels for two to three years.
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