Q1 core loss per share of 1.13 usd vs 1.27 loss (Il Sole 24 Ore Radiocor) - New York, 24 Apr - The US aerospace and defence group Boeing said that in the first quarter its revenue fell 8% year on year to 16.569 billion dollars.

In a statement it said it posted a loss per share in the three months of 0.56 dollars, compared to a loss of 0.69 dollars a year earlier, and a core loss per share of 1.13 dollars against 1.27 dollars.

The operating margin improved to negative 0.5% from a negative 0.8%. The core operating margin improved to negative 2.3% from a negative 2.5%.

It said its results reflected lower 737 deliveries and 737-9 grounding customer considerations, adding it was undertaking comprehensive actions in its commercial business to strengthen quality and safety.

'Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality,' said Dave Calhoun, Boeing president and CEO. 'We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future." Since the door plug blew out on the Alaska Airlines Max 9 in January, the Federal Aviation Administration has barred Boeing from increasing output of its best-selling 737 Max planes. The FAA found numerous issues of noncompliance along Boeing's supply chain.

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(RADIOCOR) 24-04-24 14:13:56 (0493) 5 NNNN