Boeing Beats Estimates, Plans Further Job Cuts
Boeing (NYSE: BA) lost less money than expected in the third quarter, but the company's outlook served as a stark reminder of how long a post-pandemic turnaround will take. Boeing has been hit hard in 2020 due to the continued grounding of its 737 MAX and the coronavirus pandemic, which has stifled travel demand and caused airlines to slow expansion plans. Boeing finished the quarter with more than 4,300 commercial planes in its backlog, but many of those orders have been deferred and will not contribute to free cash flow anytime soon.
