Boeing Loses $355 Million In First Quarter

Boeing released its first-quarter results on Wednesday, citing a net loss of $355 million.

Although substantial, the numbers were better than analysts had expected—especially in the midst of management shakeups, whistleblower claims and ongoing production delays.

The company's reputation has taken a hit since the Jan. 5 midair door plug blowout, which led to the grounding of its of its 737-9 MAX fleet. The setback seems to have derailed Boeing in recovering from the two fatal MAX crashes in 2018 and 2019.

"Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality," said Dave Calhoun, Boeing president and CEO. "We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future."

According to an MSN report, Boeing’s first-quarter deliveries indicated a total shipment of 83 aircraft, including 67 737 jets, three 767s and 13 787 Dreamliner wide-body jets. The total reflects a 47% decrease compared to the same period last year, during which Boeing delivered 130 aircraft.

Despite its challenges, Boeing managed to secure 131 gross orders in the first quarter, maintaining a commercial order backlog of 5,591 planes valued at some $448 billion.