US plane maker Boeing reported its fourth straight quarterly loss on Wednesday as the coronavirus pandemic and the grounding of the troubled 737 MAX hurt the company’s sales.
Free cash outflow rose to $5.08 billion in the quarter, from $2.89 billion, a year earlier. Total debt surged to $61 billion, from $19.2 billion. Excluding items, Boeing lost $1.39 per share, less than Wall Street’s average expectation of a loss of $2.52 per share, according to IBES estimates from Refinitiv. Revenue fell 29 percent to $14.14 billion, topping analyst estimates of $13.90 billion.
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