Boeing Posts $1.2 Billion Loss in Q1, Worse Than Expected

Traffic drives in view of a massive Boeing Co. production plant, where images of jets decorate the hangar doors, Friday in Everett, Wash., on April 23, 2021. Elaine Thompson/AP Photo

Boeing said Wednesday that it lost $1.2 billion in the first quarter as it took large write-downs and lost money in both its civilian airplane and defense businesses.

The loss was bigger than Wall Street had forecast, and the company’s quarterly revenue also fell short of expectations. Boeing burned through $3.2 billion in cash.