Boeing Co., the world's second-largest commercial aircraft maker, said Tuesday its first quarter earnings may fall after its production cut it is set to announce tomorrow.
Earnings per share may have fallen 38 percent, said Chicago-based Boeing, from 91 cents and revenue of $16.62 billion according to analyst surveyed by Reuters.
Boeing previously said it plans to cut about 10,000 jobs, in response to the sinking demand and financial crisis, or about 6 percent of its total work force after reporting a surprise fourth-quarter loss.
It will also trim its monthly production of the most profitable model 777 by 28 percent starting in June 2010, up to five planes and delay its plans to boost production of its 747-8 and 767 planes.
Shares of Boeing also fell 44 cents to 1.21% at $36.04 in the early trading.