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Boeing's Woes Continue: Revenue Plunges, Losses Mount

Revenue Nosedives, Deliveries Plummet

Boeing's financial performance has taken a sharp turn for the worse, as revenue plummeted in the first quarter of 2024. The company's revenue dropped by a staggering 14 billion (8%) to $166 billion, primarily due to a significant decline in aircraft deliveries to its airline customers. This, in turn, can be attributed to ongoing problems with the company's 737 Max aircraft.

Cash Flow Concerns and Debt Woes

The company's cash flow situation has also come under scrutiny. With free cash flow expected to be around $4 billion in 2024, analysts fear that Boeing may need to cut expenses or dispose of assets to address its $5 billion of 1Q24 debt liability. The company's total debt currently stands at $63.58 billion, with $61.89 billion in long-term debt and $1.69 billion in current debt.

A CEO's Perspective

Despite the dismal financial results, Boeing CEO Dave Calhoun downplayed their significance. He emphasized that the company's focus is not primarily on short-term financial performance but rather on addressing the underlying issues that have plagued its aircraft production.

Timeline of Boeing's Problems in 2024

• Incident with a rear door plug tearing off a 737 Max 9