Boeing Co unveiled $2.7 billion in charges and added costs across its aircraft portfolio on Wednesday, and expressed doubts over hitting jet delivery targets as technical problems, inflation and supplier risks cloud its path toward recovery.
Shares of the U.S. planemaker fell to a nearly 1-1/2 year low after it posted a quarterly loss and announced it was halting 777X production through 2023 due to a fresh delay in its entry into service after certification problems and weak demand.
“Another dreadful set of results,” Agency Partners analyst Nick Cunningham said in a client note, adding that a “general sense of disarray continues”.
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