Boeing (BA) shares rose Wednesday as the announcement of a new chief executive outweighed second quarter results that came in below expectations.
Boeing (BA) came out with a quarterly loss of $2.90 per share versus the Zacks Consensus Estimate of a loss of $1.79. This compares to loss of $0.82 per share a year ago.
Boeing Co (NYSE:BA, ETR:BCO) has announced industry veteran Kelly Ortberg will take the helm next month as the plane maker grapples with mounting losses on the back of quality control issues. Ortberg, who headed aerospace firm Rockwell Collins between 2013 and 2021, will succeed Dave Calhoun on August 8 after his retirement.
Boeing (NYSE: BA ) named Kelly Ortberg its new CEO as it released second-quarter earnings. The aerospace giant lost $1.44 billion, $2.33 per share, on revenue of $16.87 billion during the quarter.
Boeing named former Rockwell Collins executive Kelly Ortberg as its new President and CEO, tasking the aerospace industry veteran with turning the struggling planemaker around.
Boeing stock rose early Wednesday after the Dow Jones aerospace giant ended its CEO search. But the plane maker missed Q2 forecasts.
Longtime aerospace executive Robert "Kelly" Ortberg has been selected to replace Dave Calhoun as CEO of Boeing, the company announced Wednesday, after a tumultuous few years that have included intense scrutiny of the safety of its737 Max jets and saw the company plead guilty to defrauding the Federal Aviation Administration.
The Boeing board has reached a decision on the person to replace Dave Calhoun as president and CEO, naming former Rockwell Collins CEO Kelly Ortberg as the chosen candidate.
Troubled planemaker hopes to turn its fortunes around after huge losses due to 737 Max 9 aircraft line fiascos
Boeing is expected to post another loss as a safety and manufacturing crisis weighs on deliveries of new planes. Both the company's commercial and defense units have been challenged by programs running behind schedule and higher-than-expected costs.
The aerospace firm reports second-quarter earnings Wednesday morning. Investors should expect turnaround talk, and maybe some CEO succession planning.
The chair of the Senate Commerce Committee wants the Federal Aviation Administration to conduct a thorough review into its oversight of Boeing and other manufacturers, raising serious questions about the government's scrutiny of the planemaker.