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Boeing Company Posts Narrower Core Operating Loss In Q2; Revenues Down 25%

The Boeing Company (BA) reported a second quarter core loss per share of $4.79 compared to a loss of $5.82, previous year. On average, 19 analysts polled by Thomson Reuters expected the company to report a loss per share of $2.54, for the quarter. Analysts' estimates typically exclude special items. Core operating loss was $3.32 billion compared to a loss of $3.75 billion.

The company noted that its financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding. Operating cash flow was negative at $5.3 billion in the quarter, primarily reflecting lower commercial deliveries and services volume.

Second quarter revenues declined to $11.81 billion from $15.75 billion, previous year. Analysts expected revenue of $13.16 billion for the quarter.

Total company backlog at quarter-end was $409 billion, including more than 4,500 commercial airplanes.

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