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April 24, 2019, 8:10 a.m. EDT

Boeing's stock swings higher after Q1 results, which include $1 billion increased cost for 737 business

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By Tomi Kilgore

Boeing Co.'s /zigman2/quotes/208579720/composite BA +1.10% commercial airplanes business suffered first-quarter declines in profit, revenue and margin in the wake of groundings of its 737 MAX planes after two deadly crashes. The stock has swung higher in premarket trade, rallying 1.6% after being down as much as 1.3% earlier, after Boeing reported adjusted earnings that missed expectations and revenue that came up a bit shy, while saying it would update its 2019 guidance at a future date. Commercial airplane earnings fell 17% to $1.17 billion, revenue dropped 9% to $11.82 billion and operating margin declined 1.0 percentage points to 9.9%, while deliveries dropped 19% to 149 airplanes. Boeing said the results include $1 billion in increased cost to produce aircraft in the 737 program. Boeing's stock has gained 4.4% over the past three months through Tuesday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.14% has gained 8.6%.

/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 379.76
+4.13 +1.10%
Volume: 3.63M
Sept. 13, 2019 6:30p
P/E Ratio
44.47
Dividend Yield
2.16%
Market Cap
$213.70 billion
Rev. per Employee
$660,961
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,219.52
+37.07 +0.14%
Volume: 255.26M
Sept. 13, 2019 4:56p
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