Mercedes-Benz lowers 2026 profit forecast as China pressures persist
The carmaker now expects core profit of around €5.8 billion and a car-business margin of 2% to 3%. Its shares fell more than 4%.
Boeing loss exceeds expectations as jet production problems persist
Supply-chain costs and delivery mix weighed on commercial airplanes, while defense and services posted stronger margins.
Boeing reported a larger-than-expected third-quarter loss on October 27 as supply-chain difficulties and delayed jet production weighed on its commercial airplane business. Its adjusted quarterly loss came to 34 cents per share, versus the 21-cent loss analysts expected, based on LSEG data.
Commercial airplane revenue edged lower to $10.7 billion, and the division recorded an operating loss of $697 million. Boeing said a less profitable mix of aircraft deliveries and increased production expenses, including supply-chain costs, hurt performance.
The company has had difficulty lifting monthly 737 production to 47 jets from 42, a target it had hoped to reach during the summer. CEO Kelly Ortberg said at a September industry conference that wing production was not keeping pace.
Defense earnings were nearly $500 million, helped by increased deliveries, better operational performance and the sale of a subsidiary for $252 million. The division's operating margin reached 6.2%, compared with 1.7% a year earlier. Boeing Global Services generated earnings of $1 billion, with an 18.3% operating margin.
Boeing also generated free cash flow during the quarter, received U.S. regulatory certification for its 737 MAX 7 and won the Navy's sixth-generation F/A-XX fighter contract. The larger MAX 10 received certification in October.
Net debt at quarter-end was $25.2 billion, compared with $25.9 billion in the preceding quarter and $30.4 billion a year earlier. Boeing shares edged higher in premarket trading.