Boeing defense margins to remain flat in second quarter By Reuters

© Reuters. FILE PHOTO: A view of Boeing’s display booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File Photo

(Reuters) – Margins at Boeing (NYSE:)’s defense unit will look similar in the second quarter to its first-quarter results, Boeing Defense CEO Ted Colbert said Sunday.

Margins at its defense unit were negative in the first quarter as Boeing recorded a $245 million pre-tax charge on the KC-46 tanker program.

“We’re still assessing where the numbers are going to fall,” Colbert told reporters in a briefing ahead of the Paris Airshow. He added that there is a “ton of activity” to improve performance at Boeing’s defense unit but that it will take time for improvements to be seen.

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