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Tanker troubles bedevil Boeing financial report

Boeing KC-46 tanker
Boeing’s KC-46 tanker uses a boom to refuel an F-16 fighter jet. (Boeing Photo)

Second-quarter financial results that show higher revenue and earnings per share would typically please investors, but not for Boeing.

Instead, Boeing’s shares declined by as much as 3 percent after the results were announced. The price recovered to close at $355.92, representing a 0.6 percent loss on a trading day that was generally positive.

Investors were “rattled” by a $426 million charge against revenue due to cost overruns in Boeing’s KC-46 tanker program for the Air Force, Leeham News’ Dan Catchpole wrote. That assessment was seconded by other analysts.

Get the full story on GeekWire.

By Alan Boyle

Mastermind of Cosmic Log, contributor to GeekWire and Universe Today, author of "The Case for Pluto: How a Little Planet Made a Big Difference," past president of the Council for the Advancement of Science Writing.

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