10/23/2019, 1:31 PM (Source: TeleTrader)
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Boeing EPS halves in Q3 to $2.05

The Boeing Co. reported on Wednesday that its earnings per share (EPS) amounted to $2.05 in the third quarter of this year, 50% less than in the same period last year. Revenues sank 21% to total $19.98 billion in the same period.

The planemaker revealed that its operating margin shrank by 2.6 percentage points on an annual basis and stood at 6.3% in the three months through September. Meanwhile, earnings from operations were down 43% to $1.26 billion year over year. The report highlighted that operating cash flow was $2.42 billion in the negative, compared to $4.56 billion in the third quarter of 2018.

The company's CEO Dennis Muilenburg commented: "Our top priority remains the safe return to service of the 737 MAX, and we're making steady progress. We've also taken action to further sharpen our company's focus on product and services safety, and we continue to deliver on customer commitments and capture new opportunities with our values of safety, quality and integrity always at the forefront."

Shares dipped 1.48% in premarket shortly after the financial figures were out.

Breaking the News / NI