The recovery has yet to arrive at Boeing. In its first-quarter 2021 earnings, the aerospace manufacturer revealed a net loss of $561 million or $0.92 per share, its sixth consecutive quarterly loss. Boeing’s loss from operations was $83 million, its operating margin was -0.5%, and its operating cash flow was negative $3.4 billion.
According to Boeing, the loss was mainly driven by lower deliveries of the company’s 787 jet, partially offset by more deliveries of the company’s 737. The company delivered 77 planes in the first quarter for $4.3 billion in revenue, but lost $856 million in operating costs to deliver an operating margin of -20.1%.
From Industry Week
From Industry Week -
Toyota’s U.S. branch announced April 28 it would invest $803 million more in its Princeton, Indiana location to build two new SUVs there. The money, Toyota says, will be used to prepare the factory for the new vehicles and train the expected 1,400 new employees to produce them. Toyota Motor Manufacturing, Indiana, currently employees 7,296 people, and Toyota says the 23-year-old plant has received $5.8 billion in investments so far.
In a statement, Toyota said the new SUVs would be “electrified” and touted their role towards the company’s long-term carbon-neutral goals, but did not specify if the vehicles would be battery-operated or hybrid models.
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SCHAUMBURG - The White House announced that President Biden will nominate Doug Parker, current chief of California’s Division of Occupational Safety and Health (Cal/OSHA), to serve as Assistant Secretary of Labor for the Occupational Safety and Health Administration (OSHA).
Parker had recently served on Biden’s transition team and previously for the Obama Administration. Biden is still considering whether to issue an emergency temporary standard (ETS) to create a set of enforceable, COVID-19-related workplace safety regulations.
Notably, Parker helped craft the California ETS, which compared to parallel regulations out of Michigan, Oregon, and Virginia, is considered the most burdensome for employers. More HERE.
SCHAUMBURG - The J.P. Morgan Global Manufacturing PMI rose from 53.9 in February to 55.0 in March, the fastest pace since February 2011. Overall, manufacturers remain very upbeat in their outlook for production over the next six months, but they also cite significant supply chain disruptions. Input prices jumped at the swiftest pace since April 2011. More HERE.
SCHAUMBURG - The Illinois Manufacturing Excellence Center (IMEC) recently announced a 3-part event with NASA and its prime contractors to bring new business opportunities to manufacturers in the Chicago region and throughout Illinois. If you are looking to work with NASA and its contractors, you can attend these sessions to learn about the essentials of doing business with NASA’s Marshall Space Flight Center, Johnson Space Center, and its contractors. Registration is required for each event. The three complimentary webinar sessions are as follows:
SCHAUMBURG - The Technology & Manufacturing Association introduced their updated information center in April 2021, with new access for members to online information about the organization's events.
SCHAUMBURG IL - The Technology & Manufacturing Association spent several days during the COVID-19 pandemic time to reach out to members (social-distanced, of course) and ask them about their companies, how being members of TMA benefit their companies and staff.
The #WeAreTMA interviews, recorded by TMA's Membership Development Coordinator Isaac Flex, will continue ... check out the series on YouTube here