Quality issues delay deliveries

Article Excerpt

BOEING CO. $178 remains a hold. The aircraft maker (New York symbol BA; Conservative Growth Portfolio, Manufacturing sector; Shares outstanding: 603.2 million; Market cap: $107.4 billion; Price-to-sales ratio: 1.5; Dividend suspended in June 2020; TSINetwork Rating: Extra Risk; www.boeing.com) now expects to deliver between 375 and 400 of its 737 Max airliners in 2023, down from its previous estimate of 400 to 450. That drop is due to defective bulkheads, which are structures that seal off compartments of the aircraft. Meantime, the company delivered 105 commercial airplanes in the three months ended September 30, 2023, down 6.3% from 112 a year earlier. However, its overall revenue improved 13.5%, to $18.10 billion from $15.96 billion, thanks to higher deliveries of its more-expensive 787 planes. The higher revenue also helped Boeing cut its losses in the quarter to $3.26 a share from $6.18 a share. Boeing is a hold. hold…