Transportation
Boeing Jumps on Cash Generation as Jet Deliveries Surge
- Shares jump as revenue, earnings also beat estimates
- CEO Calhoun to employees: ‘This is what progress looks like’
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Boeing Co. generated $2.58 billion in free cash flow in the second quarter, far exceeding expectations as a flurry of jet deliveries and customer deposits helped overcome the financial strain from supplier glitches.
Analysts had expected the manufacturer to burn through almost $74 million in cash after it grappled with output disruptions to its workhorse 737 Max and the 787 Dreamliner, based on data compiled by Bloomberg.