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.