Boeing posts quarterly loss, but stock surges as aircraft deliveries drive up cash

Boeing results topped analyst expectations Wednesday thanks to a pickup in commercial aircraft deliveries as the manufacturer increases production, but losses in its defense and space businesses drove the manufacturer into the red for the quarter. The company generated $2.6b of free cash flow in the second quarter, ahead of analyst forecasts, and reiterated its full-year guidance of between $3b and $5b of free cash flow. Boeing shares surged nearly 9% to end the day at $232.80, the stock’s highest closing price since November 2021. Here’s how the company performed during the period ended June 30, compared with Refinitiv consensus estimates: Adjusted loss per share: 82 cents vs. 88 cents; Revenue: $19.75b vs. $18.45b. Boeing and main rival Airbus have both struggled to increase aircraft production in the wake of the Covid pandemic as some airlines face longer waits for new jets, just as travel demand rebounds. The company delivered 136 planes in Q2, up from 121 aircraft during the same period last year.<br/>