Boeing earnings drop more than 10 percent in Q1, company pulls outlook

The Boeing Co. on Wednesday reported expected declines on all of its major financial metrics after a first quarter that included the global grounding of its cash-driving 737 MAX.  Boeing (NYSE: BA) reported net earnings of $2.1 billion, down 13 percent year over year, while earnings per share dropped 10 percent to $3.75 and core earnings per share fell 13 percent to $3.16. Operating cash flow was down 11 percent to $2.7 billion and core operating earnings were down 21 percent to $2 billion year over year.  The company said those earnings reflected the lower number of 737 deliveries in the quarter and it also pulled its previous yearly outlook. The company didn’t yet offer new guidance for 2019.