Analysts reduced third-quarter earnings estimates for Boeing Co. on Monday after the company said it will delay delivery of 12 jets.
The giant aerospace company said parts shortages, a stretched supplier base and an influx of new employees will cause it to deliver 12 planes–seven 737s, four 747s and one 757–in the fourth quarter instead of the third quarter.
Seattle-based Boeing said it still expects to deliver 340 to 350 planes this year.
Wolfgang Demisch, an analyst at BT Alex Brown Inc., said that although the delayed deliveries won’t have a huge impact on full-year results, “this quarter will look a little feeble.”
Demisch said he plans to cut his third-quarter estimate to the 40-cents-to-50 cents-a-share range from the 50-cents-to-60-cents range. He plans to raise his fourth-quarter estimate to the high 60-cents area from the high 50-cents area. He said he also will reduce his full-year estimates by roughly 10 cents a share, to about $2, excluding results from McDonnell Douglas Corp., which Boeing recently acquired.
