HWM - Boeing drags down suppliers after huge Q4 loss 777X delay

Boeing ([[BA]] -2.8%) falls as much as 4% after reporting a much wider than expected Q4 loss and saying it is pushing out its first 777X delivery to late 2023, three years later than initially planned.Several Boeing suppliers, including Spirit AeroSystems ([[SPR]] -4.0%), General Electric ([[GE]] -3.7%), Triumph Group ([[TGI]] -3.7%) and Howmet Aerospace ([[HWM]] -4.8%) trade sharply lower.Boeing is making "prudent design modifications" to the 777X, including hardware changes to the actuator control electronics, in response to regulator expectations, Boeing CEO Dave Calhoun said on today's earnings conference call.The company said it expects to resume handing over 787s to customers later this quarter, although analysts say deliveries likely will not recover to 2019 levels until at least 2024.Benchmark analyst Josh Sullivan says that while the headlines will weigh on Boeing shares today, Q4 was one of the last periods to account for the impact of the pandemic on 777X

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Boeing drags down suppliers after huge Q4 loss, 777X delay