Boeing gets another boost as credit agency says it won't cut its rating to junk status

Group 1 - Boeing is no longer at risk of being downgraded to junk status by S&P Global Ratings, which is a positive indicator for the company's financial health [1] - The company reported a cash balance of $23.7 billion at the end of Q1 2024, indicating a recovery after significant cash outflows in the previous year [2] - Boeing faced a quality crisis last year that led to production restrictions by the FAA, limiting 737 Max production to 38 units per month [2][3] Group 2 - A seven-week strike temporarily halted production of the 737 Max, which is crucial for Boeing's revenue [3] - The company raised $24.3 billion in equity last October to alleviate financial pressures and is expected to raise an additional $10 billion from selling parts of its aviation-software business [3] - S&P affirmed Boeing's BBB- rating, citing ongoing concerns about cash flow despite the positive developments [3] Group 3 - Boeing's CEO stated that increasing production of the 737 Max is essential for generating cash flow, with current production in the low 30s and plans to reach 38 units soon [4] - S&P anticipates that negative cash flow will persist through Q2 but expects a turnaround with increased Max deliveries in the latter half of the year [5] - Boeing reported Q1 revenues of $19.5 billion, an 18% increase year-over-year, but still incurred a loss per share of 16 cents and negative free cash flow of $2.3 billion [5]