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July 24, 2019, 8:30 a.m. EDT

Boeing sees 'significant risk' to 777X delivery schedule

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By Tomi Kilgore

Boeing Co. /zigman2/quotes/208579720/composite BA -0.51% said Wednesday that the grounding of the 737 Max planes acted as a $5.6 billion drag on revenue and cut earnings per share by $8.74. Adding that back to reported second-quarter results of a loss per share of $5.21 and revenue of $24.26 billion, Boeing still would have reported a decline from a year-ago EPS of $3.73 and revenue of $24.26 billion. Separately, Boeing said it was still targeting "late 2020" for the first delivery of the 777X plane, but said there was "significant risk" to this schedule given engine challenges, which have already delayed the first flight until early 2020. Boeing's stock fell 0.7% in premarket trading, with the implied price decline on track to act as a 17-point drag on the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA -0.19% price. Dow futures /zigman2/quotes/210407745/delayed YMU19 +0.12% were down 88 points ahead of the open.

/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 384.44
-1.97 -0.51%
Volume: 3.03M
Sept. 19, 2019 6:30p
P/E Ratio
45.02
Dividend Yield
2.14%
Market Cap
$217.44 billion
Rev. per Employee
$660,961
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,094.79
-52.29 -0.19%
Volume: 216.44M
Sept. 19, 2019 5:17p
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/zigman2/quotes/210407745/delayed
US : U.S.: CBOT
$ 27,118.00
+32.00 +0.12%
Volume: 386.00
Sept. 19, 2019 10:01p
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