Boeing CFO spooks investors with cash-burn comments

Boeing Co (NYSE: BA) stock closed sharply lower after it's chief financial officer conceded it will not generate positive cash flow in 2024.

Moreover, it expects significant cash outflows during its second quarter.

It comes as the aerospace engineer grapples with multiple production issues and delays in aircraft deliveries, notably the 737 Max.

Chief financial officer Brian West, at a conference, commented that Boeing could ‘burn’ as much cash as the $4 billion spent in its first quarter.

"We have frustrated and disappointed our customers because of some of the production supply chain issues that we’re up against," said West.

In New York, Boeing shares fell $14.07 or 7.55% changing hands at $172.21.