Friday 15 November, 2019

Boeing costs for 737 Max jump, profit falls short in 3Q

FILE - In this May 14, 2019, file photo flags fly outside the main building of The Boeing Company's Oklahoma City facility in Oklahoma City. Boeing Co. reports financial earns on October 23. (AP Photo/Sue Ogrocki, File)

FILE - In this May 14, 2019, file photo flags fly outside the main building of The Boeing Company's Oklahoma City facility in Oklahoma City. Boeing Co. reports financial earns on October 23. (AP Photo/Sue Ogrocki, File)

Boeing is reporting a big profit shortfall for the third quarter after costs related to the troubled 737 Max rose by $900 million.

The Chicago company said Wednesday that it expects regulatory review to begin in the fourth quarter. A few weeks ago, Boeing Co. predicted the plane would be flying around that time.

Net income was $1.17 billion, or $2.05 per share. Per-share earnings were $1.45 when nonrecurring items are removed, far short of the $2.04 Wall Street was looking for, according to a poll by Zacks Investment Research.

Revenue was $19.98 billion, topping forecasts analyst expectations $19.34 billion.

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