"The 787 Dreamliner made progress during the quarter despite the labor strike.
Key milestones included a successful hydraulic system test, landing gear test, and
pressurization test of the static airframe – the last, a key step in validating the structural
integrity of the airplane. The program also began testing the flight controls and began
final assembly of the fourth flight-test airplane. To date, the program has won 895 net
airplane orders from 58 customers."
Also, a nice backlog. But deliveries suffer from the strike and galley equipment delays.
LY4XELD From United States of America, joined Mar 2000, 857 posts, RR: 16 Reply 1, posted (5 years 1 month 3 weeks 1 day 12 hours ago) and read 1131 times:
Boeing stock is down $2.60 (right now). The impact of the strike was hardly a surprise, why would the stock be down as much as it is (I guess if I could figure this out, I should be working as a market analyst)? Wasn't it well known that deliveries would drop?
CEO Jim McNerny said that the backlog grew and the company was in a good position to weather the financial crisis and the labor stoppage.
Stitch From United States of America, joined Jul 2005, 28566 posts, RR: 84 Reply 2, posted (5 years 1 month 3 weeks 1 day 12 hours ago) and read 1088 times:
Well the DOW is down 270 (Boeing down $3.45), so it's probably just another "bears run wild" effect and not a specific lack of confidence in Boeing alone that accounts for the price drop.
Another $15 drop, however, and it will be time to buy again for me.
7% revenue drop for the quarter is pretty big, but the 1% over nine months shows that the new airplane market still looks pretty healthy.
Cash flow sure has taken a bath this year, however, but then with three full commercial programs in development plus production ramps on four others, I guess this is to be expected. I imagine IDS programs are also draining cash as they're being developed.