On July 28, Boeing declined 3.34% in pre-market trading, trading at $213.15/share, with turnover of $7.7248 million. The drop comes as the company faces a dual headwind from a new FAA airworthiness directive and anticipated quarterly losses in its earnings report released before the opening bell.
The U.S. Federal Aviation Administration proposed a new airworthiness directive requiring detailed inspections of passenger seat assemblies on 453 Boeing 737-8, 737-9, and 737-8200 aircraft registered in the U.S. The directive was issued after reports that seat assemblies were not properly installed in seat tracks. The FAA is accepting public comments through September 10.
Separately, Boeing released its Q2 earnings this morning, with analysts expecting an adjusted EPS loss of -$0.34. Industry research estimates that the commercial airplane division may have incurred approximately $425 million in losses related to the integration of fuselage supplier Spirit AeroSystems. While the FAA has restored Boeing's certification authority for new 737 MAX and 787 production, output remains constrained by engine supply shortages.
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