Here comes Boeing ...
- Boeing is set to report ahead of the opening bell.
- It's the company's first earnings report since 737 Max planes were grounded and production was cut.
- Watch Boeing trade live.
Boeing is set to report its first-quarter results ahead of Wednesday's opening bell.
The report will give investors their first look at how the grounding and production cut of the 737 Max, which occurred in the wake of the aircrafts second disaster in five months, will impact its financials.
Earlier this month, Boeing announced it was cutting production of the aircraft, which was set to become its largest source of revenue and profit this year, from a rate of 52 airplanes a month to 42. According to Moody's, the aircraft manufacturer's operating profit margin is $12 million to $15 million on each 737 Max 8 it delivers to customers.
Here's what Wall Street analysts surveyed by Bloomberg are expecting:
- Adjusted earnings per share: $3.25
- Revenue: $22.9 billion
Boeing's stock is down 11.5% since the Ethiopian Airlines crash on March 10, but is still up 16% this year.