Boeing is shifting strategy after Chinese customers halted aircraft deliveries due to escalating tariff tensions, according to the company’s first quarter earnings call. CEO Kelly Ortberg confirmed that China’s retaliatory 125% tariffs on U.S.-made goods have led many Chinese customers to refuse deliveries, prompting Boeing to cease building aircraft for those orders and seek new buyers. Boeing has around 50 deliveries slated for China this year, including 41 already built or in production. Boeing reported better-than-expected first-quarter results with revenue increasing 18% year-over-year to $19.5 billion. The company delivered 130 aircraft in the quarter, exceeding internal projections.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Boeing is shifting strategy after Chinese customers halted aircraft deliveries
00:06due to escalating tariff tensions according to the company's first corridor earnings call.
00:10CEO Kelly Ortberg confirmed that China's retaliatory 125% tariffs on U.S.-made goods
00:16have led many Chinese customers to refuse deliveries, prompting Boeing to seize building
00:20aircraft for those orders and seek new buyers. Boeing has around 50 deliveries slated for
00:25China this year, including 41 already built during production. Boeing reported better than
00:29expected first quarter results with revenue increasing 18% year over year to $19.5 billion.
00:35The company delivered 130 aircraft in the quarter, exceeding internal projections.
00:40For all things money, visit Benzinga.com slash GSTV.