---
title: "Boeing profit slumps 53% as MAX grounding takes heavy toll"
description: "Oct 23 (Reuters) - Boeing Co reported a 53% drop in quarterly profit on Wednesday, as the world's largest planemaker was hurt by the grounding of its best-selling 737 MAX jets."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Reuters"
author_url: "https://www.dailymaverick.co.za/author/reuters/"
canonical_url: "https://www.dailymaverick.co.za/article/2019-10-23-boeing-profit-slumps-53-as-max-grounding-takes-heavy-toll/"
published: "2019-10-23T14:00:28"
updated: "2019-10-23T14:03:23"
lang: "en-ZA"
word_count: 58
---

# Boeing profit slumps 53% as MAX grounding takes heavy toll

> Oct 23 (Reuters) - Boeing Co reported a 53% drop in quarterly profit on Wednesday, as the world's largest planemaker was hurt by the grounding of its best-selling 737 MAX jets.

By Reuters · Published 23 October 2019, 16:00 SAST · Updated 23 October 2019, 16:03 SAST

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The company had a negative free cash flow of $2.89 billion in the quarter, compared with a positive free cash flow of $4.10 billion a year earlier.

Core operating earnings fell to $895 million or $1.45 per share, from $1.89 billion or $3.58 per share, a year earlier. (Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)