Boeing sees free cash burn in 2024 as deliveries remain sluggish

News Snapshot:

Boeing BA-N will burn rather than generate cash in 2024 and deliveries will not increase in the second quarter, the company’s finance chief said Thursday, as the U.S. planemaker grapples with a full-blown crisis that is pinching production of its strongest-selling aircraft. CFO Brian West told the Wolfe Research Global Transportation and Industrials Conference that he expects Boeing’s full-year free cash flow to be negative, compared with March’s outlook for positive cash generation in the low single-digit billions. His remarks surprised some investors, sending shares down 6% in midday trade and deepening the company’s problems as production challenges and delayed...