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Boeing says top end of 2023 cash flow goal 'bit pressured'

2023-05-25 22:24
Boeing Co's finance chief said on Thursday the top end of its full-year free cash flow forecast was
Boeing says top end of 2023 cash flow goal 'bit pressured'

Boeing Co's finance chief said on Thursday the top end of its full-year free cash flow forecast was a "bit pressured", in part due to supply-chain problems at its ailing defense business.

However, the planemaker is keeping its 2023 free cash flow forecast of $3 billion to $5 billion, CFO Brian West said at a conference organized by Wolfe Research.

Boeing has also begun to deliver "reworked" 737 jets out of its inventory after a manufacturing snafu involving supplier Spirit AeroSystems Holdings Inc forced the planemaker to halt deliveries of some jets.

Boeing's shares were up about 1% after briefly turning negative on Thursday.

(Reporting by Abhijith Ganapavaram and Shivansh Tiwary in Bengaluru; Editing by Shinjini Ganguli and Shounak Dasgupta)