Boeing Posts Quarterly Profit

Boeing ($BA@US) posted its 2nd straight quarterly profit on Wednesday after receiving a boost from 737-MAX deliveries. As global travel increases, Boeing is facing calls from its airline partners to deliver jets to keep up. The 737-MAX was once the firm’s best-selling aircraft until a series of fatal crashes and a prolonged investigation downed the fleet from early 2019 until late 2020. Conversely, Boeing is charging off losses from the 787 widebody program, which has cost the firm about $1 billion more than planned over the past 2 years. Additionally, the Starliner astronaut capsule program was hit with a $185 million charge caused by delays and repairs related to faulty fuel valves. The company reported an operating profit of $59 million compared with a three-quarters of a billion-dollar loss this time last year. Revenue jumped to just over $15 billion on the strength of the aforementioned 737-MAX deliveries—it’s building around 19 737-MAX jets per month—and an increase in activity from the services unit. The firm also noted it plans to increase production at its new South Carolina plant, aiming for 5 jets per month in the future. Boeing stock fell nearly 1 and a half percent in early trading.