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Boeing's first earnings miss in five years eclipses 787 gain

Boeing's first earnings miss in five years eclipses 787 gain

Boeing's profit fell short of analysts' estimates for the first time in five years as a charge for cost overruns on refueling tankers overshadowed improvements in cash flow and the company's 787 Dreamliner production.

The accounting loss -- the third for the tanker -- reduced first-quarter profit to $1.74 a share, Boeing said in a statement Wednesday. That missed analysts' estimates by 10 cents a share. Excluding the one-time loss and some pension expenses, earnings were $1.98 a share.

Boeing's struggle to develop the first new U.S. tanker since the 1980s has added to skittishness among investors. They've also been concerned about a glut of planes in the global market and a...

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