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.

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By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

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