Starliner Delays Weigh On Boeing's Space Segment, Company Reports $1B Loss On Fixed-Price Programs In Q2
Portfolio Pulse from Anan Ashraf
Boeing's defense, space, and security segment reported a $913 million loss in Q2, with overall revenues dipping 15% to $16.87 billion. The losses are attributed to delays in the Starliner spacecraft and other fixed-price programs. Boeing's stock closed up 2% at $190.6 but is down 24.3% year-to-date.
August 01, 2024 | 11:49 am
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Boeing's defense, space, and security segment reported a $913 million loss in Q2, with overall revenues dipping 15% to $16.87 billion. The losses are attributed to delays in the Starliner spacecraft and other fixed-price programs. Boeing's stock closed up 2% at $190.6 but is down 24.3% year-to-date.
The significant losses in Boeing's defense, space, and security segment, primarily due to delays in the Starliner spacecraft, indicate operational challenges. Despite a 2% stock price increase, the year-to-date decline of 24.3% suggests investor concerns. The short-term impact is likely negative due to ongoing issues and potential future losses.
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