Boeing Loss Widens Analysts Miss Big Revenue Drop

Boeing on Wednesday reported a quarterly loss of more than $3 billion quarterly loss compared with a $132 million loss a year earlier. Sales in the quarter were $15.96 billion missing analysts $17.76 billion forecast. Boeing’s defense business continued to be weighed down with losses of $2.8 billion on programs including the KC-46 tanker and Air Force One. $BA said it had positive operating cash flow in the third quarter. It reiterated the target of generating surplus cash for the … Continue reading “Boeing Loss Widens Analysts Miss Big Revenue Drop”

Boeing Profit Lower as Charges Mount in Military and Space Unit

Boeing on Wednesday reported a profit of $160 million, down from $567 million, or $1, during the same period a year earlier. Sales in the quarter fell 2% to $16.7 billion, missing analysts $17.6 billion forecast. BA said it had positive operating cash flow in the second quarter. It reiterated the target of generating surplus cash for the full year. Boeing’s defense business continued to be weighed down by around $400 million in charges during the quarter. BA continues to … Continue reading “Boeing Profit Lower as Charges Mount in Military and Space Unit”

CBO Estimates Build Back Better Act To Increase Unified Deficit By $115.1 billion

The Congressional Budget Office is out with an Estimated Budgetary Effects of Title VI, Committee on the Judiciary, H.R. 5376, the Build Back Better Act. CBO estimates that enacting this title would result in a net increase in the unified deficit totaling $115.1 billion over the 2022-2031 period. That increase in the deficit would result from an increase in direct spending of $147.2 billion and an increase in revenues of $32.1 billion. Some of those budgetary effects are associated with … Continue reading “CBO Estimates Build Back Better Act To Increase Unified Deficit By $115.1 billion”