Boeing’s $418 Million Tanker Writedown Rattles Investors
- Planemaker takes $426 million hit as it plans KC-46 retrofit
- Company’s profit, sales exceed Wall Street’s expectations
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Boeing Co. absorbed a $426 million blow as it prepares to deliver the first of its delay-plagued aerial tankers to the U.S. Air Force, rattling investors accustomed to turbulence-free results from the world’s largest planemaker.
The latest writedown covers the higher estimated expense of retrofitting eight of the three-dozen-odd KC-46 tankers in various stages of production ahead of final certification. Boeing had already amassed $3 billion in charges developing the aerial refueler based on its 767 jetliner.